Shaw and Partners appointed as Joint Lead Manager to the NAB Capital Notes 6 offer

National Australia Bank Limited (NAB) today announced its intention to raise $1 billion through the offer of NAB Capital Notes 6 (NABPI), with the ability to raise more or less. NAB Capital Notes 6 are convertible, subordinated notes that are scheduled to pay quarterly, floating rate non-cumulative distributions in cash subject to the satisfaction of certain conditions.

Shaw and Partners is pleased to be appointed as Joint Lead Manager to offer.

The offer comprises

• a Reinvestment Offer (under which eligible NCN2 (NABPD) Holders may apply through a syndicate broker to reinvest some or all of their redemption proceeds into NAB CN6);
• a New Money Offer via a syndicate broker and
• an Institutional Offer.

The margin is expected to be between 3.15% and 3.35% pa and will be determined through the Bookbuild.

Quarterly Distributions are discretionary and subject to the Distribution payment conditions being met.  Distributions are expected to be fully franked. The first distribution is scheduled to be paid on 17 Sep 2022.

NAB Capital Notes 6 has an Initial Face Value of A$100, and the net proceeds of the offer will be used for general corporate purposes.

The offer is open to Australian Resident Wholesale clients (Sophisticated or Professional) only.

For more information please contact your Shaw and Partners adviser.