On 21 November, Bendigo and Adelaide Bank (BEN) (BBB+/A3/A-) mandated ANZ, National Australia Bank, Nomura and Westpac Institutional Bank for an Australian dollar denominated 10-year non-call five-year (10NC5) tier-two floating-rate deal. The transaction is expected to be rated BBB-/Baa3/BBB+ and will launch in the near future.