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National Australia Bank repurchases US$10M of notes

National Australia Bank Ltd. said Dec. 24 that it repurchased US$10 million of subordinated notes.

The bank will subsequently cancel the notes.

The notes were issued Oct. 9, 1986, with a total issue amount of US$250 million. Following the cancellation of the repurchased notes, the outstanding nominal amount will be US$42.2 million.