TSX:NABanks
National Bank of Canada’s New Limited Recourse Capital Notes Might Change The Case For Investing In (TSX:NA)
National Bank of Canada has completed a CAD 600 million fixed-to-floating rate, limited recourse, subordinated bond offering maturing on August 16 2086, adding long-term variable-rate funding to its capital structure.
This complex Limited Recourse Capital Notes structure, tied to preferred shares in a dedicated trust, fine-tunes the bank’s loss-absorbing capital and funding flexibility.
We’ll now examine how this CAD 600 million Limited Recourse Capital Notes issuance may influence National...