BoCom Sydney launches three-year Australian dollar FRN

On 24 September, Bank of Communications Sydney Branch (BoCom Sydney) (A-/A2) launched a new three-year, Australian dollar denominated, senior-unsecured, floating-rate note (FRN), benchmark transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 88 basis points area over three-month bank bills. ANZ, Bank of China, HSBC, Industrial and Commercial Bank of China and National Australia Bank are leading.