National Australia Bank has mandated banks to arrange investor meetings ahead of a potential covered bond issue, which could be the first from an Australian issuer since legislation was passed.

The Banking Amendment (Covered Bonds) Bill 2011 was granted royal assent on Monday after being passed in parliament last week.

NAB said that a debut Rule 144A and/or Reg S covered bond could follow the investor meetings, which will begin on Monday, 31 October.

Read The Covered Bond Report tomorrow (Wednesday) for more.