Credit Suisse seen selling A$600 mln 5-year FRN

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SYDNEY Aug 30 (Reuters) - The Australian unit of Credit Suisse (CSGN.VX) is likely to sell A$600 million ($537 million) in five-year floating rate notes at 158 basis points over BBSW, a source who has seen the terms said on Tuesday.

Strong demand will allow the borrower to slightly cut the margin from around 160 basis points.

The issue, to price later on Tuesday, is led by Credit Suisse, CBA (CBA.AX) and NAB (NAB.AX).

It will be repo-eligible with the Reserve Bank of Australia.

The Sydney branch of Credit Suisse is rated A+ by S&P, Aa1 by Moody's and AA- by Fitch. (Reporting by Cecile Lefort; Editing by Ed Davies)