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Covered bonds for NAB UK

National Australia Bank sold @font-face { font-family: "Cambria"; }p.MsoNormal, li.MsoNormal, div.MsoNormal { margin: 0cm 0cm 0.0001pt; font-size: 12pt; font-family: "Times New Roman"; }div.Section1 { page: Section1; }£1.1 billion in covered bonds overnight through its subsidiary Clydesdale Bank.Reuters reported that Clydesdale sold a three-year, £400 million floating rate tranche at 170 basis points over 3-month Libor and a @font-face { font-family: "Cambria"; }p.MsoNormal, li.MsoNormal, div.MsoNormal { margin: 0cm 0cm 0.0001pt; font-size: 12pt; font-family: "Times New Roman"; }div.Section1 { page: Section1;14-year, £700 million fixed rate tranche at 270 basis points over the corresponding 2025 sterling bond.The placement of covered bonds may be the first for Clydesdale after putting in place documentation for a program four years ago.

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