On July 13, Société Générale's (A/A2/A) Australian dollar tier-two subordinated transaction progressed launched and priced. Indicative volume on the 12-year non-call-seven maturity structure deal was A$200 million (US$151.9 million) with price guidance in the area of 320 basis points over semi-quarterly swap. The bonds will be issued off Société Générale's EMTN programme and are expected to be rated BBB/Baa3/A-.
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