Challenger launches domestic tier-two deal

On 15 November, Challenger Life Company (Challenger) (A by S&P) launched a new Australian dollar-denominated, 25-year non-call five-year tier-two transaction. Indicative price guidance on the forthcoming deal, which is expected to be rated BBB by S&P, is 220 basis points area over bank bills. National Australia Bank, UBS and Westpac Institutional Bank are leading.