March 12, 2020 / 9:28 AM / a month ago

BRIEF-National Australia Bank Withdraws NAB Capital Notes 4 Offer

March 12 (Reuters) - National Australia Bank Ltd:

* NAB WITHDRAWS NAB CAPITAL NOTES 4 OFFER

* RECOGNISES THAT MARKET CONDITIONS HAVE CHANGED SUBSTANTIALLY SINCE OFFER WAS LAUNCHED

* ONGOING MARKET VOLATILITY WOULD BE LIKELY TO IMPACT ON TRADING VALUE OF NAB CAPITAL NOTES 4

* WITHDRAWAL OF OFFER OF NAB CAPITAL NOTES 4 DOES NOT IMPACT RESALE OF NCN

* OTHER OPTIONS, INCLUDING POTENTIAL REPRICING, WERE NOT CONSIDERED APPROPRIATE IN ABSENCE OF AN ORDERLY MARKET

* STILL INTENDS TO CONVERT UP TO $750M OF NCN INTO ORDINARY SHARES

* APPLICATION MONIES RECEIVED BY NAB WILL BE REFUNDED (WITHOUT INTEREST)

* NATIONAL AUSTRALIA BANK LTD SAYS REMAINS WELL-CAPITALISED Source text : (bit.ly/3cUGVK6) Further company coverage:

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