ASX:NABBanks
Will Eurobond Funding And Mortgage Rate Hike Change National Australia Bank's (ASX:NAB) Interest Income Narrative
National Australia Bank Limited recently completed a €1 billion floating rate senior subordinated Eurobond offering due January 22, 2036, issued at 100% of face value under Regulation S and Rule 144A.
This funding move coincides with the Reserve Bank of Australia’s 0.25 percentage point cash rate increase and NAB’s decision to lift standard variable home loan rates from February 13, reshaping its interest income profile and customer cost pressures.
We’ll now examine how the Reserve Bank’s...