On August 24 ING Bank (Australia) (ING) (AA-) launched a benchmark-sized August 2013 government-guaranteed transaction, with price guidance of 36 basis points area over the bank bill swap rate (BBSW) and/or swap. The deal, led by Commonwealth Bank of Australia, J.P. Morgan and UBS and offering both fixed and floating rate tranches, is expected to price on August 25.
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