Access a
complete
debt funding
network
Debt Capital Markets
Origination
Risk Management
NAB Advisory Australia
Distribution
Debt Capital Markets
A$23.8bn
Client funding Sep 2013
A$34.1bn
Deposits on NAB’s book Sep 2013
Successful debt funding creates networks that bring
issuers and investors closer.
As one of Australia’s leading debt houses – raising more than A$23 billion for Australian corporates (FY 2013) – our unique end-to-end debt capabilities and extensive local and global investor relationships create new connections between corporate and financial institution issuers and a broad universe of investors. NAB’s award-winning Debt Markets team provides origination, advisory, risk management, distribution and agency services to a broad range of Australian and offshore issuers right across the ratings spectrum. Our deep understanding of domestic and global investor markets enables us to create and distribute innovative products to a broad base of buyers in key local and offshore markets.
Our strength and experience
With over 140 people in Australia, NZ, Asia, the US and the UK, our Debt Markets team has the expertise, global relationships and balance sheet to facilitate unique funding solutions. Our award-winning team has a strong track record of delivering the right solutions for clients across all industry sectors.
Origination – bonds and syndicated loans
In a dynamic and ever-evolving marketplace, funding diversity, resilient products and solutions and seamless execution are critical.
As one of Australia’s leading bond and loan originators, NAB uses its extensive market knowledge and understanding of capital structures to create solutions uniquely suited to meet your funding needs.
Our deep understanding of Australasian and global debt markets means we can react quickly to help issuers identify windows of opportunity and provide the consistent execution clients need. Whether it’s a bond issued locally or offshore, or a syndicated loan, we bring borrowers and investors closer, facilitating innovative approaches to new and established markets. In addition to our domestic expertise, our ability to take global
clients to the US Private Placement (USPP) market and other offshore debt capital markets makes us one of the top cross-border USPP banks in the world.1
We originate:
• Syndicated loans – best efforts and underwritten facilities. • Institutional term loans.
• Credit tenant leases.
• AUD bonds – A$MTNs, A$Kangaroo bonds, A$EMTNs, securitisation, covered bonds, private placements. • Offshore bonds: US Private Placements, 144a, Reg S, Euro,
Sterling, NZ Dollar EMTNs, NZ Dollar Kauri bonds. • ASX-listed bonds, hybrids and capital notes.
1. Thomson Reuters US Private Placement League Table – H1 2013.
Support and innovation
Our priority is to support our clients in any environment. We demonstrated our commitment during and after the Global Financial Crisis (GFC), when NAB reinvigorated several debt markets, lead managing the first AUD syndicated loan, 10-year bond, BBB-rated corporate bond and retail hybrid note from Woolworths.
NAB Securitisation, working closely with Debt Syndicate and Fixed Income, Currency and Commodity teams, was the frontrunner to reopen a number of offshore markets for Aussie RMBS issuers. For the first time since the GFC, NAB launched an Aussie RMBS offering into the USD 144A market successfully closing four transactions. NAB was also the first arranger of Aussie RMBS deals denominated in Sterling post the GFC.
NAB is playing a pivotal role in advocating and driving the development of the Australian corporate bond market, to help facilitate future domestic economic growth.
We continue to work closely with Australian and offshore investor communities to provide the products and solutions that satisfy their needs. We’ve also invested heavily in opening new markets to investors. For example, our unique Bond Access Service allows wholesale investors to invest directly in the unlisted bond market with a minimum of A$100,000 per bond parcel (previously A$500,000). This service enables investors to create a bond portfolio that is tailored to their investment strategy and risk appetite, providing the opportunity to build diversified fixed income portfolios.
Debt Capital Markets
NAB Advisory Australia
NAB Advisory’s team consisting of more than 50 corporate finance specialists delivers capital insights, risk management and credit ratings advisory assisting clients achieve their strategic and financial objectives. We work closely with relationship and product specialists to drive the best outcome for our clients at every stage of the transaction lifecycle from idea conception to post-deal evaluation.
NAB activity
We support issuers
We support investors
Domestic client intermediationin global capital markets
Australasian clients’ funding needs offshore and in markets in which they operate. We fund Australian, New Zealand and Asian infrastructure
Offshore investors seeking exposure to Australasian assets
Offshore client intermediation in Australasian markets
NAB offshore franchise clients top tier global FI relationships offshore institutions seeking AUD/NZD funding
Superannuation-led investment seeking diversity through exposure to offshore assets and/or currency Offshore client intermediation
in offshore markets
NAB offshore franchise clients top tier global FI relationships offshore institutions seeking global funding
Asset managers seeking diversity
Domestic client intermediation in domestic markets
Australianand New Zealand clients’ funding needs in domestic markets
Domestic institutional, high networth and retail investors seeking innovative debt product and diversification
Distribution
Our commitment to creating and extending investor relationships sits at the heart of our business. For new loan or bond issues we can price, structure and co-ordinate the sale through all Australian and international channels, providing unparalleled global reach to issuers and a unique product range to investors.
Domestic distribution
We are a market leader in domestic distribution, using the breadth of our channels to distribute innovative products and solutions to the right investor bases – both domestically and offshore.
NAB Group is one of the largest providers of wealth platform services in Australia, giving us unparalleled access to a huge network of investors.
Our domestic channels include MLC, JBWere, NAB Private Wealth, external Advisors, NAB Business Banking and Middle Markets and Personal Banking clients.
International distribution
NAB has invested heavily in creating international investor networks that allow you to access global pools of liquidity.
New Zealand: Team of 11 based in Wellington and Auckland, including syndicate, credit sales and credit trading. United States: Team of 32 based in New York, including DCM origination and syndicate, rates and credit sales, credit traders, US Private Placement sales and money market/FX. NAB has the only dedicated US Bond distribution team of the Big Four Australian banks. We have a fully resourced US private placement, 144A and Reg S desk with a dedicated distribution team and a full service credit trading desk.
UK & Europe: Team of 18 based in London, including DCM origination and syndicate, rates and credit sales and credit traders. We focus on public and private bonds, syndicated loans and derivative product.
NAB is an active market maker in Australian company issued bonds in Europe and a strong supplier of liquidity to the market in Australian names. Our trading desk is very active in EUR- and GBP-denominated deals and has good relationships with the main buyers of these products (French, German and UK investors) and with the Swiss Private Wealth network.
Asia: Team of 11 covering non-Japan Asia, including DCM origination and syndicate, credit sales and credit traders. We have solid investor relationships in Taiwan, Malaysia, Korea, Hong Kong, Singapore and Japan.
The businesses described in this document are based in Australia. Not all services/capabilities mentioned are available outside Australia (e.g. advising on securities will not be available in HK unless it is wholly incidental to the carrying on of its Type 1 regulated activity i.e. Dealing in securities). References to domestic relate to Australia.
Take your funding in any
direction with NAB.
AUD Domestic distribution Client sectors Offshore distribution Industry sectors Investment-grade corporates Sub
investment-grade corporates institutionsFinancial
institutions Sovereign, supranational and agency Semi governments syndicated loans Underwritten syndicated loans A$ medium term notes A$ Kangaroo bonds A$ euro medium term notes ABS RMBS Covered bonds Private placements ASX-listed bonds Hybrids Capital notes US private placements Agriculture Utilities Resources Property / AREIT Telco, Internet, Media
Health Consumer Infrastructure Financial Manufacturing US 144a bonds Reg S bonds Euro medium term notes Hong Kong Dollar notes CNH bonds Singapore Dollar notes Sterling MTNs NZD MTNs NZD EMTNs MLC Brokers Private banks JBWere
NAB Private Wealth Business Banking
Personal Banking Self-managed super funds
Financial advisors NZD Kauri bonds Yen private placements USD/euro securitisation Multi currency ECP Transport / Logistics Middle Markets
Institutional asset managers Industry funds
AUD Domestic distribution Client sectors Offshore distribution Industry sectors Investment-grade corporates Sub
investment-grade corporates institutionsFinancial
institutions Sovereign, supranational and agency Semi governments syndicated loans Underwritten syndicated loans A$ medium term notes A$ Kangaroo bonds A$ euro medium term notes ABS RMBS Covered bonds Private placements ASX-listed bonds Hybrids Capital notes US private placements Agriculture Utilities Resources Property / AREIT Telco, Internet, Media
Health Consumer Infrastructure Financial Manufacturing US 144a bonds Reg S bonds Euro medium term notes Hong Kong Dollar notes CNH bonds Singapore Dollar notes Sterling MTNs NZD MTNs NZD EMTNs MLC Brokers Private banks JBWere
NAB Private Wealth Business Banking
Personal Banking Self-managed super funds
Financial advisors NZD Kauri bonds Yen private placements USD/euro securitisation Multi currency ECP Transport / Logistics Middle Markets
Institutional asset managers Industry funds
Debt Capital Markets
Agency Services
NAB is a leading provider of agency management and security trustee services for multi-lender loan facilities in Australia. Our experience in Facility Agent, Security Trustee, Common Terms and Inter-creditor Agent roles has given us the expertise to ensure you always have a seamless post-transaction experience. Our dedicated relationship and administration staff have a wealth of experience in managing various types of facility structures and multiple bank groups to ensure efficient and seamless facility administration.
Risk management
In a constantly fluctuating market, our risk management team enables clients to minimise risks that can damage their business by protecting against changes in interest rates, currencies and commodity prices.
Foreign Exchange
NAB offers spot, forward and option pricing in all major
currencies, as well as non-deliverable forward pricing in the main Asian non-deliverable forward currencies.
• Our team of foreign exchange specialists provide a global service on a 24-hour basis.
• Online dealing platforms include Globallink’s FX Connect, 360T and Fxall.
• Reuters: New York; London; Sydney; Hong Kong; Melbourne; Singapore.
Interest Rates
We’ve been recognised as providing the best advice on use of interest rate risk management in Australia2.
NAB’s success in this market is a result of strong distribution capabilities and a diverse investor base.
• Global team of specialists with 24-hour trading operations in Australia, Asia, the United Kingdom and the United States.
Commodities
NAB provides clients with solutions to manage their exposure to commodity price movements along with structured commodity investment opportunities.
• Full-service commodity team incorporating an in-house trading desk, client relations team and specialist research analysts.
• Dedicated commodity hedging teams in Australia, the UK and the US.
A$50.5bn
Portfolio of bank loans
50
200
Syndicate participants
Currently active deals
Debt Capital Markets
National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686), its related bodies and any officer, employee, agent, adviser or contractor thereof (“NAB”) do not warrant or represent that the information, recommendations, opinions or conclusions contained in this document (“Information”) is accurate, reliable, complete or current. The Information has been prepared for dissemination to wholesale clients for information purposes only and should not be passed to any other person. The Information does not purport to contain all matters relevant to any particular investment or financial instrument. All statements as to future matters are not guaranteed to be accurate and any statements as to past performance do not represent future performance. In all cases, anyone proposing to rely on or use the Information should independently verify and check the accuracy, completeness, reliability and suitability of the Information and should obtain independent and specific advice from appropriate professionals or experts. The Information is not intended as an offer or solicitation for the purchase or sale of any financial instrument. To the extent permissible by law, NAB shall not be liable for any errors, omissions, defects or misrepresentations in the Information (including by reasons of negligence, negligent misstatement or otherwise) or for any loss or damage suffered by persons who use or rely on such Information. If any law prohibits the exclusion of such liability, NAB limits its liability to the re-supply of the Information, provided that such limitation is permitted by law and is fair and reasonable. NAB and its affiliates may hold a position or act as a price-maker in the financial instruments of any issuer discussed within this document or act as an underwriter, placement agent, adviser or lender to such issuer. The Information is governed by, and is to be construed in accordance with, the laws in force in the State of Victoria, Australia, and any dispute or claim arising from, or in connection with, the Information is subject to the non-exclusive jurisdiction of the courts of that State. Please be aware that any telephone calls to NAB may be recorded.
United Kingdom: If this document is distributed in or deemed to be distributed in the United Kingdom, such distribution is by National Australia Bank Limited, 88 Wood Street, London EC2V 7QQ. Registered in England BR1924. Head Office: 800 Bourke Street, Docklands, Victoria, 3008. Incorporated with limited liability in the State of Victoria, Australia. Authorised and regulated by the Australian Prudential Regulation Authority. Authorised in the UK by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. This document is intended for Investment Professionals (as such term is defined in the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005), such persons having professional experience in matters relating to investments, and should not be passed to, or relied upon by, any other person who does not have professional experience in matters relating to investments, including but not limited to persons defined as retail clients by the rules of the United Kingdom’s Financial Conduct Authority and Prudential Regulation Authority.
United States: This information has been prepared by National Australia Bank Limited (“NAB”). If it is distributed in the United States, such distribution is by nabSecurities, LLC. This document is not intended as a recommendation, invitation, offer, or solicitation or inducement to buy or sell any financial instrument or product, to provide financial services or to engage in or refrain from engaging in any transaction. It is not the intention of NAB or nabSecurities, LLC to create legal relations on the basis of the information contained herein. It is intended for the information of clients only and is not for publication in the press or elsewhere. This document does not purport to contain all relevant information, particularly in relation to any investment or financial instrument. This document has been prepared without taking into account the objectives, financial situation or needs of any recipient. Neither NAB, nabSecurities, LLC nor any of its respective affiliates give any representation or warranty, express or implied, as to the accuracy or completeness of the information.
The information contained herein may include estimates and projections and involves elements of subjective judgment and analysis. It is of a general nature intended to provide a broad overview of the relevant market and is not illustrative of a proposed transaction. Past performance is not indicative of future results.
To the extent permitted by law, NAB, nabSecurities, LLC, their related bodies corporate, their officers, employees, agents and members (a) disclaim any and all liability relating to the information contained herein, including, without limitation, any express or implied representation for statements and conclusions contained in and omissions from this information; and (b) accept no liability (whether in negligence or otherwise) for any loss, damage, costs or expenses of any nature which may be suffered or incurred by any person relying on any information or statement contained herein or otherwise arising in connection with any such information or statement.
Hong Kong: If the document is distributed in Hong Kong, such distribution is by National Australia Bank Limited, Hong Kong Branch, which is licensed by the Hong Kong Monetary Authority and registered (CE Number AAO169) under the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) for Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities. Its branch office address is Level 27, One Pacific Place, 88 Queensway, Hong Kong. By accepting this document, the Recipient represents and warrants that it is a “professional investor” within the meaning of paragraphs (a) to (i) of the definition of that term in Part 1 of Schedule 1 to the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong). The contents of this document have not been reviewed by any regulatory authority in Hong Kong. If you are in any doubt about any of the contents of this document, you should obtain independent professional advice. The author of this document is not licensed to undertake any regulatory activity in Hong Kong.
Singapore: By accepting this document, the Recipient represents and warrants that it is an “institutional investor” within the meaning of the definition of that term in the Securities and Futures Act (Cap. 289 of the Laws of Singapore). This document is distributed in Singapore by National Australia Bank Limited, Singapore branch. This document does not constitute an offer, invitation, solicitation or inducement for the issue, subscription, sale, purchase or disposal of any securities, financial instruments, financial products, assets or businesses, or any advice or recommendation in relation to subscribing for, investing in, or acquiring or disposing of any securities, financial instruments, financial products, assets or businesses, or to engage in or refrain from engaging in any transaction whatsoever. The author of this document is not licensed to undertake any regulatory activity in Singapore.
Steve Lambert
Executive General Manager Debt Markets Phone: +61 2 9237 1150
Email: steve.lambert@nab.com.au Geoffrey Schmidt
Managing Director
Head of Debt Markets – Northern Hemisphere Phone: +1 212 916 9678
Email: geoffrey.schmidt@nabny.com Jaqueline Fox
Head of Origination, Securitisation Phone: +61 3 8641 2341
Email: jaqueline.fox@nab.com.au
Tom Mazzaferro
Head of Non Rated and Specialised Originations Phone: +61 2 9237 9834
Email: tom.mazzaferro@nab.com.au Connie Sokaris
General Manager Investment Grade Originations Phone: +61 2 9237 9149
connie.sokaris@nab.com.au
For more information please contact a NAB representative listed below.
