On 11 May, Macquarie Bank launched an indicative A$400 million (US$257.8 million), 8.5-year non-call 5.5-year, additional tier-one (AT1) deal, marketed at 470-490 basis points over three-month bank bills. The final margin is expected to be announced on 15 May following the completion of a bookbuild. Macquarie Bank is arranger for the deal and joint lead manager with ANZ, Citi, Commonwealth Bank of Australia, Evans and Partners, Morgans, National Australia Bank, Ord Minnett and Westpac Institutional Bank.