March 12, 2020 / 9:27 AM / 16 days ago

National Australia Bank withdraws notes offer due to market volatility

March 12 (Reuters) - National Australia Bank said on Thursday it was withdrawing a capital notes offer due to heightened volatility in the market.

The country’s third-largest lender said last month it would increase the amount it was looking to raise from a notes offer to at least A$1.95 billion ($1.25 billion).

The bank said “market conditions have changed substantially since the offer was launched and ... the ongoing market volatility would be likely to impact on the trading value of the NAB Capital Notes 4.”

$1 = 1.5555 Australian dollars Reporting by Nikhil Kurian Nainan in Bengaluru; editing by John Stonestreet

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