Bank of Queensland has mandated ANZ, NAB, UBS and Westpac for a benchmark five-year senior unsecured bond transaction, and could be a mix of floating-rate or fixed-rate notes. In this context, 'benchmark' usually implies a deal size of A$500 million or more. Initial price guidance is 105 to 108 basis points over three-month BBSW or semi-quarterly coupon matched ASW. Pricing is expected to be set today (23 January), "subject to market conditions", according to one of the bankers working on the transaction. The notes are expected to be rated BBB+ by S&P and A- by Fitch, in line with BOQ's overall ratings of A3 by Moody's, BBB+ by S&P and A- by Fitch. The resignation of David Marshall, chief executive of customer owned mutual Hume Bank, takes effect from Friday, January 26. The bank has so far remained silent on who will be his replacement at the bank's Albury headquarters, and what steps have been taken. In other mutual news, Nova Credit Union delayed its AGM to December 15 last year in hopes that a transfer to the Bendigo Alliance would get the tick from members but instead they did not hold the vote at that time, with the vote now proposed early in 2018.