UOB Sydney launches three-year benchmark domestic FRN

On 17 July, United Overseas Bank Sydney Branch (UOB Sydney) (AA-/Aa1/AA-) launched a three-year, senior-unsecured, benchmark domestic floating-rate note (FRN) deal with indicative price guidance of 55 basis points area over three-month bank bills. Pricing is expected on the day of launch according to lead managers HSBC, National Australia Bank, UOB and Westpac Institutional Bank.