RACQ Bank launches three-year FRN
- Tuesday, 18 February 2020
On 18 February, Members Banking Group (BBB+/Baa1), trading as RACQ Bank, launched an indicative A$50 million (US$33.6 million), three-year, floating-rate note (FRN) transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 93 basis points area over three-month bank bills. ANZ and National Australia Bank are leading.
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