By Andrea Heisinger
New York, Jan. 4 - National Australia Bank Ltd. priced $1.75 billion of notes (Aa1/AA/) on Monday in two tranches.
The notes were sold without the backing of the Australian government and were priced via Rule 144A.
A $500 million tranche of three-year floating-rate notes priced at par to yield three-month Libor plus 48 basis points.
A $1.25 billion tranche of three-year fixed-rate notes priced at par to yield 2.5%, or Treasuries plus 87.5 bps.
Both tranches are non-callable.
Bank of America Merrill Lynch and HSBC Securities ran the books.
The financial services company is based in Melbourne, Australia.
| Issuer: | National Australia Bank Ltd.
|
| Issue: | Global notes
|
| Amount: | $1.75 billion
|
| Bookrunners: | Bank of America Merrill Lynch, HSBC Securities
|
| Distribution: | Rule 144A
|
| Trade date: | Jan. 4
|
| Settlement date: | Jan. 8
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
|
|
| Three-year floaters
|
| Amount: | $500 million
|
| Maturity: | Jan. 8, 2013
|
| Coupon: | Three-month Libor plus 48 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 48 bps
|
| Call: | Non-callable
|
|
|
| Three-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | Jan. 8, 2013
|
| Coupon: | 2.5%
|
| Price: | Par
|
| Yield: | 2.5%
|
| Spread: | Treasuries plus 87.5 bps
|
| Call: | Non-callable
|
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