National Australia sells A$300 million green mortgage-backed bonds

By Susanna Moon

Chicago, Feb. 13 – National Australia Bank sold A$2 billion of residential mortgage-backed securitization that includes a climate bond certified green tranche, which is reportedly Australia’s first, according to an announcement by the bank.

The green tranche comprises A$300 million of NAB-originated mortgages for Australian residential properties that meet the Climate Bonds Standard Criteria for Australian low carbon residential buildings, the bank said.

The issue “attracted socially responsible funds and more mainstream investors from Australia and internationally, and was close to two times oversubscribed,” the release noted.

The Capital Relief National RMBS Trust 2018-1 is backed by prime residential mortgages originated and serviced by NAB.

The bank is based in Melbourne.

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