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National Australia Bank Launches Capital Notes 3 Offer and Announces Resale of CPS

11 Feb 2019  |  09:36:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: NAB launches NAB Capital Notes 3 offer

National Australia Bank announced an offer of Company Capital Notes 3. The Capital Notes 3 are convertible, subordinated notes that are scheduled to pay quarterly, floating rate non-cumulative distributions in cash. The offer is expected to raise $750m, with the ability to raise more or less. The Company will use the net proceeds of the Offer for general corporate purposes. The Company issued a resale notice in respect of Company Convertible Preference Shares issued on 20 March 2013 (CPS) in accordance with the CPS terms. The resale of the CPS will not impact the final dividend of $1.2976 per CPS scheduled to be paid by the Company on 20 March 2019.

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