On 17 April, Oversea-Chinese Banking Corporation Sydney Branch (OCBC Sydney) (AA-/Aa1/AA-) launched a three-year senior-unsecured domestic benchmark floating-rate note (FRN) transaction. The forthcoming deal is being marketed at 73 basis points area over three-month bank bills. Pricing is expected on the day of launch, according to lead managers ANZ, Commonwealth Bank of Australia, OCBC, UBS and Westpac Institutional Bank.