National Australia Bank (NABZY.PK) - Oz's largest - and Wells Fargo (WFC) are exploring a joint...


National Australia Bank (NABZY.PK) - Oz's largest - and Wells Fargo (WFC) are exploring a joint venture to bring Australian borrowers to the U.S. term loan B (TLB) market, reports Reuters. The TLB market is basically junk bonds, and the lucrative business is currently dominated by global banks such as JPMorgan (JPM) and Bank of America (BAC).
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Comments (3)
  • gwynfryn
    , contributor
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    NAB? That about sums it up!
    6 Jun 2013, 08:07 AM Reply Like
  • EGalindo
    , contributor
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    What? Australia has not yet been corrupted by the TBTF? They better act fast before someone warns the Australians....
    6 Jun 2013, 09:00 AM Reply Like
  • NairobiBoy
    , contributor
    Comments (3) | Send Message
     
    Tens of thousands of Hungarian borrowers were lured into doing something similar with the Swiss Franc a few years ago to get lower borrowing rates and guess what happened to the Swiss Franc vs Forint rate in the meantime ?
    6 Jun 2013, 09:00 AM Reply Like
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