NRW.BANK (AA-/Aa1/AAA) launched a new, five-year, minimum A$200 million (US$140.4 million) Kangaroo bond, on 18 July. Indicative price guidance for the forthcoming transaction is 52 basis points area over semi-quarterly swap, equivalent to 65.2 basis points area over Australian Commonwealth government bond. Pricing is expected on the day after launch, according to joint lead managers Deutsche Bank, J.P. Morgan and RBC Capital Markets.