NAB's big week offshore
National Australia Bank (rated AA-) issued a total of US$2.6 billion of bonds in the United States on Thursday. The three-tranche issue comprised $1.35 billion of floating-rate notes and $500 million of three-year notes, priced at 55 basis points over Libor and 72 bps over US Treasury bonds, respectively.The third tranche amounted to $750 million of five-year bonds, priced at 98 bps over US Treasuries.There were also unconfirmed reports of NAB issuing a covered bond in New Zealand. NAB reportedly sold NZ$350 million of 10-year covered bonds, priced at 105 bps over mid-swaps.Elsewhere, CBA (rated AA-) sold £300 million of three-year Euro FRNs, priced at 50 bps over Libor, and the Uridashi market proved popular with both ANZ and Toyota Finance Australia.ANZ (rated AA-) sold four tranches of Uridashi bonds and raised A$100 million for six years in the Euromarket. In the Uridashi market, ANZ raised A$87 million for 10 years (at yield of 5.295 per cent per annum), 330 million Mexican pesos for four years at 3.94 per cent, US$23 million for five years at 1.84 per cent, and A$21 million for four years at 3.64 per cent.Toyota Finance Australia (AA-) sold A$29 million and US$60 million of five year bonds, at yields of 3.89 per cent and 1.57 per cent, respectively.