On 17 February, Industrial and Commercial Bank of China Sydney Branch (ICBC Sydney) (A/A1/A) began taking indications of interest for a new three-year, Australian dollar denominated, floating-rate note (FRN) transaction. Initial price guidance for the potential deal is 85 basis points area over three-month bank bills. ANZ, ICBC, National Australia Bank and Westpac Institutional Bank are leading.