Commonwealth Bank of Australia

Wells Fargo is expected to sell on Wednesday a dual tranche deal in Australian dollars — a rare offering from a well-known name.

Bank of China hit Asia's debt market hard on Tuesday, unleashing a huge deal spanning four currencies and six tranches. The $3.1bn-equivalent deal was designed to make a statement to the market that it should not forget China’s Belt and Road initiative, DCM bankers said. Morgan Davis and Addison Gong report.

Bank of China launched its multi-currency, multi-tranche transaction on Tuesday morning, as Citic Securities also opened books for two tranches of dollar notes.

Bank of China, CCB Life Insurance and Citic Securities kicked off investor meetings and calls this week, in pursuit of Reg S deals.

Yorkshire Building Society defied concerns around the UK’s decision to leave the European Union this week, issuing a well oversubscribed covered bond that was very broadly distributed and that priced almost flat to its curve.

OP Corporate Bank and Commonwealth Bank of Australia were not overwhelmed with demand for their fixed rate senior deals this week, as absolute spread levels for the product grind tighter and tighter.

Yorkshire Building Society issued a €500m six year covered bond almost flat to its curve with strong demand on Monday. At the same time Commonwealth Bank of Australia priced a €750m seven year, a solid trade but one that lacked sparkle.

BBVA and Commonwealth Bank of Australia were both targeting the five year part of the maturity curve on Monday, tapping into good demand in the vanilla senior debt market.

Commonwealth Bank of Australia (CBA) sold one of the largest climate bonds an Australian bank has ever sold in the domestic market this week, as the nation’s lenders ramp up issuance in the format.

Qantas Airways is holding roadshows in Singapore, Hong Kong and Taipei for its latest fundraising, a two tranche revolver that refinances a A$1.13bn ($849m) loan raised a few years ago.

Queensland Treasury Corp ran a prototype bond auction on Commonwealth Bank of Australia’s blockchain platform, the bank said on Tuesday. QTC generated a bond tender, viewed investor bids in real time, finalised investment allocation and settled the dummy issue instantly — although it was on both sides of the deal, as sole issuer and investor.

Investor Access, a platform which allows investors to submit orders for a new bond issue directly into the order book was deployed for the first time last week on a Commonwealth Bank of Australia sterling covered bond. Now work is underway to convince more dealers of the initiative’s worth.