National Australia Bank Limited (AU:NAB) has released an update.
National Australia Bank Limited has announced the issuance of A$1,250,000,000 in subordinated medium-term notes, maturing in June 2039, under its domestic Debt Issuance Programme. These notes may convert into ordinary bank shares if the Australian Prudential Regulation Authority deems the bank non-viable. This financial move is not expected to materially impact the bank’s financial position, and the shares issued upon conversion are capped at a predetermined maximum number.
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