National Australia to Issue Mortgage Bonds in Two Currencies
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National Australia Bank Ltd. said it plans to issue U.S. and Australian dollar-denominated bonds backed by residential mortgages, in the first sale of such securities in Australia in two months.
The Melbourne-based lender is marketing the equivalent of A$750 million ($765 million) of notes in the first public offering of Australian RMBS since mid-July, it said in an e-mailed statement today. The bank plans to issue $202.8 million of U.S. dollar-denominated bonds and A$555 million of securities in the Australian currency, according to a separate statement from Fitch Ratings.