Credit Union Australia, rated A or BBB+ by Moody's and S&P respectively, has mandated ANZ and CBA for a new three-year A$200 million senior unsecured medium term note. Initial price talk is the 135 basis points over three-month bank bill swap rate area. The transaction is expected to launch this week, subject to market conditions, according to one banker working on the transaction. CEO Rob Goudswaard said funds raised would be used to refinance a A$105 million issue and meet increased demand for new funding. The December quarter edition of the Adelaide Bank/Real Estate Institute of Australia Housing Affordability Report shows a slight decline in housing affordability nationally, with the proportion of median family income required to meet average loan repayments increasing by 0.9 percentage points to 30.4 per cent. Compared to the corresponding quarter in 2015, the figure decreased by 1.9 percentage points.