NAB sets guidance on route to LT2 reopener

02 Feb 2010

National Australia Bank (NAB) is well on track to reopen the lower tier two market later on Tuesday having gathered over Eu2bn of orders for its planned deal and set guidance at a level that was welcomed by syndicate bankers away from the trade.

Lead managers Credit Suisse, Deutsche Bank, JPMorgan and NAB have set official guidance at 135bp area over mid-swaps for the bullet 10 year issue.

It is the second attempt by an issuer this year to launch a capital trade. Last week, La Caixa pulled its planned lower tier ...

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