On 23 August, DBS Bank launched a new, minimum A$300 million (US$237.4 million) three-year covered bond. The forthcoming deal, which has an expected rating of Aaa/AAA (Moody’s/Fitch), will emerge in either or both or fixed- or floating-rate format and is being marketed in the area of 53 basis points over swap benchmarks. Pricing is expected in the near future, according to joint lead managers ANZ, Deutsche Bank, DBS Bank, National Australia Bank and RBC Capital Markets.