Holders of various type of ANZ securities, including ordinary shares, ASX-listed notes and hybrids are currently being offered new ANZ Capital Notes 4 (ASX code: ANZPG). In the case of ANZ CPS2 (ASX code: ANZPA) holders, they have the additional offer a “roll-over” facility into the new capital notes. That is, they will be able to exchange their existing ANZPA holdings for new securities. While a substantial number are expected...