An A$2.7 billion dual-tranche five-year bond issue by ANZ has been rated Aa2 by Moody's and AA- by S&P. The offering is comprised of an A$250 million fixed rate tranche and a A$2.45 billion floating rate tranche. The floating rate tranche has a margin of 113 basis points over the three-month BBSW rate and an issue price of par. The fixed rate tranche has a margin of SQ ASW+113 bps and a coupon of 2.8 per cent, which equates to a yield to maturity of 2.89 per cent with reoffer price of 99.594 per cent. The sole lead manager is ANZ. Settlement date is 16 August 2016. Marketplace lender SocietyOne has launched its first television ad campaign, which will run on Channel 7 during its Olympics coverage. In the ads a hipsterish thirtysomething chap talks about the banks' high lending rates and low deposit rates, before urging borrowers to try SocietyOne for a better deal. He ends with the line: "The world just got a little bit fairer. Welcome to the new society." The company is flush with funds after raising A$25 million of capital in May and will consider giving the ad a wider run after assessing the initial response. According to the Financial Services Union, Westpac is planning to close another six metro branches in Victoria and New South Wales within eight weeks. The FSU said the latest announcement, "billed as an amalgamation", followed the bank's decision earlier this year to close seven branches with "a total of 34 branches closed in the last 18 months across Westpac, St George and BankSA." Westpac has identified the decline in over-the-counter transactions and an increase in customers accessing mobile and digital banking options as factors in their decision to close the branches, the FSU said.