On 13 February, Newcastle Permanent Building Society (NPBS) (BBB/A3) launched a minimum A$100 million (US$71 million) two-year floating-rate note (FRN) domestic transaction. The forthcoming deal has indicative price guidance of 115 basis points area over three-month bank bills and is expected to price on the day of launch. ANZ and Westpac Institutional Bank are joint lead managers.