Whilst there is little risk in NABHA defaulting I think that its share price will not increase to anywhere near $100.00 in the near future.
NABHA is a perpetual security (no rest or maturity date) and it only has a 1.25% margin.
NABHA also accounts for approximately 0.60% of NAB's Tier 1 capital ratio.
This means that NAB is highly unlikely to redeem any time soon as it is a very cheap source of funding.
As stated by the previous post, I would consider Commonwealth's Pearl V offer (3.40% margin), ANZ's ANZPB (2.50% margin) or Westpac's WCBPB (3.80%).
Others can include AMP notes though they are trading well above face at the moment.
nabha, page-6
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Last
$35.63 |
Change
0.320(0.91%) |
Mkt cap ! $109.9B | |||
| Open | High | Low | Value | Volume |
| $35.73 | $35.79 | $35.43 | $76.33M | 2.142M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10799 | $35.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $35.68 | 2800 | 1 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| NAB (ASX) Chart |