NAB to raise $750m in notes offer

NAB has unveiled plans to raise $750m through the issue of capital notes, which will be priced at $100 each and convert to ordinary shares in 2022.

NAB has unveiled plans to raise $750 million through a capital notes offer to investors. (AAP)

National Australia Bank is looking to raise $750 million through a capital notes offer to investors.

The notes are priced at $100 each, will pay a quarterly dividend and convert to ordinary shares in March 2022.

NAB group treasurer Eric Williamson said the offer was part of the bank's strategy to enhance its balance sheet strength by maintaining a strong capital position.