National Wealth returns after two year hiatus with FRN top-up [UPDATED]

National Wealth Management Holdings (National Wealth) (A+) returns to the domestic market with a A$120 million top-up to its August 2015 floating rate notes. The deal was twice oversubscribed and closed in an hour, mostly taken up by funds and middle market accounts. Mark Abrahams, director of debt syndicate at sole lead National Australia Bank, says National Wealth is well funded, and has not needed to approach the market since the 2015 line was last tapped in November 2010.