Teachers Mutual launches three-year domestic transaction

Teachers Mutual Bank (Teachers Mutual) (BBB/Baa1) launched its three-year, senior-unsecured, floating-rate note (FRN) transaction on 16 October, with indicative price guidance of 90-95 basis points over three-month bank bills. National Australia Bank and Westpac Institutional Bank are joint lead managers for the deal, which is expected to price on the day of launch.