ALE launches A$150 million August 2024 benchmark FRN

After taking indications of interest earlier in the day, ALE Direct Property (Baa2), a subsidiary of ALE property group, launched a new A$150 million (US$116 million) capped, August 2024, floating-rate note (FRN), benchmark transaction on 17 March. Indicative price guidance for the forthcoming deal is 210 basis points area over semi-quarterly swap.