DBS Australia launches benchmark three-year domestic FRN

On 14 August, DBS Bank Australia Branch (DBS Australia) (AA-/Aa1/AA-) launched a benchmark three-year domestic floating-rate note (FRN) transaction, with indicative price guidance of 75 basis points area over three-month bank bills. Pricing is expected on the day of launch, according to lead managers Commonwealth Bank of Australia, DBS Bank, National Australia Bank and Westpac Institutional Bank.