NAB downsizes bond issue in attempt to assuage investor ire
National Australia Bank (AA/Aa1/AA) (NAB) has followed its July 25 announcement of a A$830 million (US$795.14 million) writedown of its investments in US residential mortgages with a downsizing of the 2011 bond deal it priced on July 22, from A$850 million to A$260 million.
Rabobank NZ launches third domestic trade [UPDATED]
Rabobank New Zealand (AAA/Aaa) priced a 2011 domestic transaction on July 23. The Bank of New Zealand-led deal was finalised at its initial size of NZ$100 million (US$75.85 million) and sold at the bottom end of its indicative price range, 22 basis points above mid-rate swap.Hybrids back in focus but ANZ and NAB play down deal talk
With deal flow elsewhere reduced to a trickle, market talk has turned to T1 securities, with ANZ Banking Group (ANZ) and National Australia Bank (NAB) said to be looking to follow Suncorp Metway, Macquarie Bank and Westpac Banking Corporation (Westpac) as domestic hybrid issuers this year.
Instos buy as NAB taps 2011s to over A$3 billion
NOTE: THIS DEAL WAS DOWNSIZED INBETWEEN PRICING AND SETTLEMENT. CLICK HERE TO READ ABOUT THE FINAL DEALInstitutional investors made up half the book on the July 22 increase to National Australia Bank (AA/Aa1/AA) (NAB)’s 2011 domestic fixed and floating bond. The bank sold A$850 million (US$829.69 million) of new paper at 90 basis points above swap, making the line the first Australian corporate bond of over A$3 billion.