On 23 June, National Housing Finance and Investment Corporation (NHFIC) (AAA by S&P) launched a new 12-year, Australian dollar denominated, social bond. The forthcoming deal is being marketed at 55 basis points area over 10-year futures contract, equivalent to 46.25 basis points area over Australian Commonwealth government bond. Pricing is expected on the day after launch, according to lead managers ANZ, UBS and Westpac Institutional Bank.