On 15 April, Bank of Queensland (BOQ) (BBB+/A3/A-) launched its benchmark three-year domestic floating-rate note (FRN) transaction. The forthcoming deal is being marketed in the area of 92 basis points over three-month bank bills and is expected to price on the day after launch. ANZ, National Australia Bank and Westpac Institutional Bank are joint bookrunners.
On 11 April, Société Générale (SocGen) (A/A1/A) launched a new, 15-year non-call 10-year, Australian dollar denominated tier-two benchmark EMTN transaction. The forthcoming deal has an indicative coupon in the area of 4.5 per cent and is expected to price on the day of launch.