Newcastle Permanent Building Society (NPBS) (BBB/A3) launched a minimum A$100 million (US$80.9 million) five-year senior-unsecured floating-rate note (FRN) on 30 January. The forthcoming transaction is being marketed in the area of 145 basis points over three-month bank bills. Pricing is expected on the day after launch, via National Australia Bank and Westpac Institutional Bank.
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