Lender’s sixth Maple bond issue surpassed the $194mln target earnings.
National Australia Bank raised C$400 million (US$387.16 million) from an issue of 5-year Maple bonds, pricing the offering at 165 basis points over the relevant benchmark for a yield of 4.191%, according to a person familiar with the offering.
The bank had aimed to raise at least C$250 million (US$193.58 million) from the issue. The bonds carry a coupon of 4.19%.
A Maple bond is one issued by a foreign company in Canadian dollars. The Maple bond market has been slow in the last couple of months, but it's still relatively strong compared with last year's relative inactivity.
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