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NAB closes $1.5bn capital raising
National Australia Bank has finalised its Capital Notes 2 offer, raising nearly $1.5 billion in capital.
- By Killian Plastow
In a statement to investors, NAB said all valid applications had been accepted in full and that close to 15 million notes had been issued, each at a price of $100.
BNP Paribas received the greatest volume of notes – approximately 20 per cent of those issued – followed by HSBC Custody Nominees with 6 per cent.
The notes are expected to commence trading on the ASX at approximately 12pm, today Friday 8 July.
NAB's finalisation of the offer follows the similar success of Westpac earlier this week which announced it had raised $1.7 billion in capital through its own capital notes offer.
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