May 31 (Reuters) - National Australia Bank Ltd NAB.AX :
* Announced an offer of NAB capital notes 2, which are expected to be quoted on the ASX.
* Says offer is expected to raise approximately $750 million
* Each NAB capital note 2 will have an issue price of $100 and an expected margin in the range of 4.95% to 5.10% per annum over the 90 day bank bill rate
* Once issued, the NAB capital notes 2 will qualify as additional tier 1 capital for the group.
* NAB capital notes 2 are expected to pay a discretionary, quarterly, floating rate, non- cumulative distribution
* Distributions are expected to be fully franked
* Margin will be determined under the bookbuild and will not change for the term of the nab capital notes 2.
* NAB capital notes 2 will mandatorily convert into ordinary shares on 8 July 2024 or if an acquisition event occurs
* Source text for Eikon ID:nASX6S8TF5
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