The government guaranteed March 2015 bond priced by ING Bank Australia (ING Australia) (A+) on February 18 was capped at A$2 billion (US$1.79 billion) with significant oversubscriptions on the back of heavy demand for the soon-to-disappear guaranteed asset class. The deal was for A$1 billion each of fixed and floating rate paper with pricing of 33 basis points over swap and bank bill swap rate respectively.