ING Bank Australia (ING Australia) (AA-) priced its new five-year domestic bond under the terms of the Australian sovereign guarantee on June 17, netting A$2 billion (US$1.6 billion) across the fixed and floating tranches of the deal. The transaction priced at the expected rate of 65 basis points over swap and is the fourth benchmark Australian market deal from an offshore-parented bank in June 2009.