AUSTRALIA - CAPITAL MARKETS - NAB in talks for potential Australian debut sukuk

www.reuters.com - SYDNEY, April 5 (IFR) - Australia is on the road towards establishing a local Islamic bond market although the country's first sukuk issuance may be several months away, IFR, a Thomson Reuters publication, reported.

National Australia Bank (Aa2/AA-/AA-) is understood to be in talks with regulators on a potential debut Sharia-compliant bond offering as the issuer seeks to marry local regulations with such deals' Islamic requirements.

Any sukuk must secure prior approval from Australian regulators, particularly the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investment Commission (ASIC). (source)