BNK Bank launches 10NC5 tier-two deal

On 12 January, BNK Banking Corporation, a financial institution operating in banking and mortgage broking aggregation, launched a maximum A$10 million (US$7.7 million) 10-year non-call five-year (10NC5), tier-two capital deal. The transaction is being marketed at 500-550 basis points over three-month bank bills, with the final margin and interest rate to be determined on 18 January following a bookbuild. Bell Potter Securities is leading.