Industrial and Commercial Bank of China Sydney Branch (ICBC Sydney) (A/A1/A) launched a three-year, Australian dollar denominated, benchmark, floating-rate note (FRN) transaction on 18 February. The forthcoming deal is being marketed at 82 basis points area over three-month bank bills. Pricing is expected on the day of launch, according to ANZ, ICBC, National Australia Bank and Westpac Institutional Bank.