NAB cuts back bond after CDO provision
National Australia Bank cancelled almost 70% of a bond on Monday, comforting angry debt investors who had signed up to an A$850m deal just before NAB revealed provisions of A$830m for CDO losses at the end of last week. The bank cut the dual-tranche deal to just A$260m after making its “worst-case scenario” risk provision. Read EuroWeek on Friday to find out more.
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