31 August 2012 7:18am

National Australia Bank sold only half the level of longer-dated, covered bonds overnight that it had aimed for, International Financing Review reported.

NAB sold £250 million in 14-year covered bonds. It priced the bonds at 120 basis points over Gilts.

The NAB deal was priced in the same format and with the same maturity as a £750 million covered bond sold last week by Commonwealth Bank, the