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.
