NAB to launch $500m hybrid

National Australia Bank is close to launching a hybrid issue to shore up its capital ratios ahead of Basel III.

National Australia Bank (NAB) is planning to launch a $500 million hybrid offer, in a push to shore up tier one capital before Basel III is rolled out, sources close to the transaction said.

It is understood the deal – which NAB is open to upsizing – is set to be launched on Monday. The seven-year, non-callable convertible securities will be priced at 325 basis points over the bank bill rate.


{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles