ING Australia launches five-year dual-tranche domestic benchmark covered bond

On 7 August, ING Bank Australia (ING Australia) (A/A3/A) launched a new five-year, Australian dollar denominated benchmark covered bond, to come in either or both fixed- and floating-rate formats. Indicative price guidance for the forthcoming deal, which is expected to price the day after launch, is 67 basis points area over swap benchmarks.