May 31 (Reuters) - National Australia Bank Ltd (NAB) :
- Announced an offer of NAB capital notes 2, which are expected to be quoted on the ASX.
- Says offer is expected to raise approximately $750 million
- Each NAB capital note 2 will have an issue price of $100 and an expected margin in the range of 4.95% to 5.10% per annum over the 90 day bank bill rate
- Once issued, the NAB capital notes 2 will qualify as additional tier 1 capital for the group.
- NAB capital notes 2 are expected to pay a discretionary, quarterly, floating rate, non- cumulative distribution
- Distributions are expected to be fully franked
- Margin will be determined under the bookbuild and will not change for the term of the nab capital notes 2.
- NAB capital notes 2 will mandatorily convert into ordinary shares on 8 July 2024 or if an acquisition event occurs
News: NAB National Australia Bank launches NAB Capital Notes 2 Offer
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Last
$43.54 |
Change
0.520(1.21%) |
Mkt cap ! $133.3B | |||
| Open | High | Low | Value | Volume |
| $43.44 | $43.67 | $43.30 | $149.6M | 3.437M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 4251 | $43.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.59 | 30 | 1 |
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