New Issue: National Australia Bank sells $1.5 billion 2.332% 10-year notes at 165 bps spread

By Cristal Cody

Tupelo, Miss., Aug. 17 – National Australia Bank Ltd. (Aa3/AA-/AA-) sold $1.5 billion of 2.332% 10-year senior notes on Monday at a spread of 165 basis points over Treasuries, according to a market source.

The notes were initially talked to price at the 190 bps to 195 bps spread area with guidance revised 5 bps tighter.

Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, nabSecurities, LLC and TD Securities (USA) LLC were the bookrunners.

National Australia Bank is a financial institution based in Melbourne.

Issuer:	National Australia Bank Ltd.
Amount:	$1.5 billion
Description:	Senior notes
Maturity:	Aug. 21, 2030
Bookrunners:	Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, nabSecurities, LLC and TD Securities (USA) LLC
Coupon:	2.332%
Spread:	Treasuries plus 165 bps
Ratings:	Moody’s: Aa3
	S&P: AA-
	Fitch: AA-
Trade date:	Aug. 17
Price guidance:	Treasuries plus 185 bps-190 bps area; initial talk at Treasuries plus 190 bps-195 bps area

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