National Australia Bank Ltd. boosted its additional Tier 1 capital after raising approximately A$1.87 billion from issuing new capital notes.
In a March 20 release, the lender said it closed its latest capital notes offer and issued 18,740,582 capital notes at A$100 each.
Meanwhile, NAB also completed the resale of all convertible preference shares it issued March 20, 2013. Following the resale, A$750 million convertible preference shares were converted into 30,185,463 ordinary shares based on a price of A$24.85 per share. The remaining balance of A$764 million convertible preference shares were redeemed.
The conversion adds about 19 basis points to the bank's common equity Tier 1 capital ratio.