On 19 March, MUFG Bank Sydney Branch (MUFG Sydney) (A/A1) launched a new 3.5-year, Australian dollar denominated, senior-unsecured, floating-rate note (FRN), benchmark transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 55 basis points area over three-month bank bills. ANZ, Commonwealth Bank of Australia, MUFG Securities, Morgan Stanley and National Australia Bank are leading.