Late in the Sydney day on 8 May, Goldman Sachs Group (Goldman Sachs) launched a multi-tranche, five- and 10-year Australian dollar-denominated transaction. The benchmark five-year tranche will come in either or both fixed- and floating-rate formats, with indicative price guidance of 120 basis points area over swap benchmarks. Meanwhile, the minimum A$100 million (A$74.4 million) 10-year tranche is being marketed at 168 basis points area over semi-quarterly swap.