NAB prices inside CBA and with more demand for its Sonia first

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NAB prices inside CBA and with more demand for its Sonia first

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NAB (National Australia Bank) bank signage in Sydney, Friday, Dec. 16, 2016. (AAP Image/Joel Carrett) | JOEL CARRETT/AAP/PA Images

National Australia Bank attracted healthy demand for its £1bn five year Sonia-linked covered bond issued on Tuesday, pricing the deal much tighter than where Commonwealth Bank of Australia issued two weeks ago with more demand and at an equivalent cost of euro funding.

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