NAB preps benchmark senior deal
- Monday, 21 November 2022
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Demand holds up as NAB re-tests the waters for domestic tier-two
A comfortable oversubscription and price tightening greeted National Australia Bank’s return to domestic tier-two issuance on 1 March. The bank’s deal was the second domestic tier-two benchmark by a big-four bank in 2023 – the first at 10-year non-call five tenor – and achieved the tightest margin on this type of issuance since April last year.
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