National Australia Bank Limited (NAB) today announced its intention to raise $750 million through the offer of NAB Capital Notes 5 (NCN5), with the ability to raise more or less. NAB Capital Notes 5 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, a Security Holder Offer, a Broker Firm Offer and an Institutional Offer. The Reinvestment Offer provides eligible holders of NAB Convertible Preference Shares II (CPS II) (ASX: NABPB) with the opportunity to rollover their investment in CPS II and reinvest all or some CPS II into NCN5.

NAB Capital Notes 5 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 clients only.

For more information please contact your Shaw and Partners adviser.