NAB hunts for cheap dual-tranche deal in euros

By David Freitas
13 May 2019

National Australia Bank went to investors on Monday with a dual-tranche deal, looking to make use of favourable conditions in the euro market. It was the first Australian name to issue euro-denominated notes since Westpac in November 2018.

The Australian financial services company offered a senior unsecured five year and 12 year dual tranche bond with BNP Paribas, HSBC, National Australia Bank and UBS as deal bookrunners.

The five year and 12 year notes started at initial price thoughts of 50bp area over ...

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