Powered by MOMENTUM MEDIA
subscribe to our newsletter

Major bank prices $800m debt issue

National Australia Bank has successfully priced subordinated medium term notes worth a total of $800 million.

In a trading update to the ASX on Wednesday, the bank announced that it had priced $150 million of 10-year fixed rate subordinated notes under its Medium Term Note program (MTN).

It also priced $650 million of 10-year floating rate subordinated notes under its MTN.

The subordinated MTNs will convert into “fully paid ordinary shares” of the bank if APRA deems them non-viable, the trading update said.

It comes after NAB successfully raised nearly $1.5 billion in capital in finalising its Capital Notes 2 offer in July.

Advertisement
Advertisement

PROMOTED CONTENT


In a statement to investors at the time, NAB said all valid applications had been accepted in full and that close to 15 million notes had been issued, each at a price of $100.

[Related: NAB announces business restructure]

Major bank prices $800m debt issue
mortgagebusiness

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

Latest News

The federal Treasurer has granted approval for a non-major bank to hold a controlling stake of 100 per cent in Members Equity Bank Limited...

The prudential watchdog has granted Sydney-based challenger in1bank an extension for its restricted banking licence. ...

The major bank has reached an agreement to settle a class action in the US over the bank bill swap rate. ...

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.