On 6 July, Societe Generale Sydney Branch (SocGen Sydney) (A/A1/A-) mandated ANZ, Mizuho Securities, SocGen and Westpac Institutional Bank to arrange an investor call, to occur on the same day, regarding a potential new three-year, Australian dollar denominated, senior-preferred, floating-rate note benchmark transaction.
MyState Bank (Baa2) launched its capped, A$25 million (US$17.25 million), 10-year non-call five-year, tier-two deal on 1 July, with indicative price guidance of 435-450 basis points area over three-month bank bills. The price guidance range tightened from marketing levels of 450-460 basis points area earlier on the same day.
On 1 July, MyState Bank (Baa2) began taking indications of interest for a capped, A$25 million (US$17.25 million), 10-year non-call five-year, tier-two capital transaction. The floating-rate note deal is being marketed at 450-460 basis points area over three-month bank bills and is expected to be rated Baa3. National Australia Bank is sole bookrunner.