The Royal Bank of Scotland Australia Branch (RBS Australia) (A+/Aa3/AA-) issued a new A$1.7 billion three-year dual-tranche domestic bond on March 3, which was upsized from a launch volume of A$500 million. The issuer visited the Australian market twice last year when it inaugurated a A$1.5 billion (US$1.5 billion) dual-tranche line in August and subsequently increased the fixed rate piece by A$300 million one month later.