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NAB buys back A$4.4 bln in government-guaranteed debt
November 8, 2012 / 2:22 AM / 5 years ago

NAB buys back A$4.4 bln in government-guaranteed debt

SYDNEY, Nov 8 (Reuters) - National Australia Bank (NAB) said it had bought back A$4.44 billion ($4.6 billion) in debt guaranteed by the Australian government in a global public tender.

NAB said it repurchased approximately A$2.84 billion over three Australian dollar lines of notes and approximately US$1.66 billion over two US dollar lines. The public offer received a 65 percent participation rate.

The buyback level for the AUD fixed rate notes was the swap rate minus 10 basis points. The buyback level for the AUD floating rate notes was 3-month BBSW minus 10 basis points.

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