Issue of Debt
March 06 2003 - 2:05AM
UK Regulatory
RNS Number:3651I
National Australia Bank Ld
06 March 2003
Corporatre Fiinance
National Australia
Bank Limited
ABN 12004044937
500 Bourke Street
ASX Announcement Melbourne
Victoria 3000
Australia
Telephone: (03) 8641 3358
Facsimile: (03) 9208 8768
Melbourne -Tuesday, 4 March 2003
National's US$300 million subordinated note issue
Last night the National launched a 10 year, non call 5 year subordinated euro
medium term note issue on the following terms:
Amount: US$300 million
Lead managers: Nomura International Plc & Royal Bank of Scotland
Payment date: 12 March 2003
Maturity: 12 March 2013 (callable in 2008)
Coupon: USD LIBOR plus 50bp
Step up to USD LIBOR plus 100bp in year 5 if not called
Issue Rating: AA/A1
Issue Price: 99.988%
Re-offer: USD LIBOR plus 54bp
Comment:
The proceeds of the issue will be used in the National's Australian balance
sheet for general banking purposes.
This issue constitutes Tier 2 capital for the Group and replaces some of the
subordinated debt which has been called during the course of this financial
year.
The Notes were sold to a range institutional investors located in Europe and UK
(75%) and Asia, including China (25%).
For further information, please contact:
Ian McLean Michael O'Neill
Head of Group Funding & Liquidity Head of Group Balance Sheet Management
(03) 8641 3358 (03) 8641-0021
This information is provided by RNS
The company news service from the London Stock Exchange
END
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