China Construction Bank's Sydney Branch has mandated ANZ, CBA and UBS as joint lead managers for a new Australian dollar three-year floating rate benchmark note issue ("benchmark" implies that at least A$500 million in new debt funding will be sought). The announcement on the transaction said its timing was "subject to market conditions." CCB is rated A1 by Moody's and A by Standard & Poors, with an outlook of 'stable' from both ratings agencies. The Citi Foundation is to invest a total of US$600,000 in four programs to create and test new means of connecting disadvantaged young people with jobs. These are: a 12-month program to support 140 young people transition from the classroom to employment in Frankston, Victoria; an investment in Global Sisters, a non-profit organisation to work with young people in NSW to set up micro businesses; the School for Social Entrepreneurs, which will open registrations for its first ever youth-based program; and the continuation of a long term partnership with the Skilling Australia Foundation. AMP is understood to be preparing to launch a Tier I hybrid issue as soon as next week, according to the AFR's Street Talk section. The hybrid is expected to be priced around 500 basis points over the bank rate. It's understood the advisers working on the hybrid issue include UBS, ANZ, NAB and Morgans. If it happens, this will add to the $30 billion of initial public offerings, major bank equity raisings and hybrids sold to investors this year. AMP has already raised Tier I capital this year via a $275 million wholesale issue.