On 9 August, Sumitomo Mitsui Banking Corporation Sydney Branch (SMBC Sydney) (A/A1) launched its two-year Australian dollar denominated transaction. The deal will come in either or both of fixed- and floating-rate formats and is being marketed at 77 basis points area over swap benchmarks. Pricing is expected on the day of launch, according to lead managers ANZ, Commonwealth Bank of Australia, National Australia Bank, SMBC Nikko and Westpac Institutional Bank.