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LONDON - National Australia Bank Limited (ASX:NAB) announced Tuesday it plans to issue euro-denominated fixed rate covered bonds maturing in August 2030, according to a pre-stabilization notice.
The benchmark-sized offering will be guaranteed by Perpetual Corporate Trust Limited in its capacity as trustee of the nab Covered Bond Trust. UBS AG London Branch will act as the stabilizing manager for the transaction.
The stabilization period is expected to commence on August 19, 2025, and end no later than September 25, 2025. The stabilizing manager may over-allot securities or conduct transactions to support the market price at levels higher than might otherwise prevail, though there is no assurance any stabilization action will be taken.
Specific details regarding the offer price and other terms have not yet been finalized, according to the press release statement.
The covered bonds, which will have a five-year maturity, represent a type of debt security that is backed by a separate group of assets. This structure typically provides additional security for investors compared to unsecured bonds.
The securities will not be registered under the United States Securities Act and are not being offered in the United States. The offering is directed at qualified investors in European Economic Area member states and at persons outside the United Kingdom (TADAWUL:4280) or those in the UK with professional investment experience.
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