Commonwealth Bank of Australia (CommBank) (AA/Aa2/AA) launched and priced a new A$2.5 billion (US$2.7 billion) five-year deal on July 21 in what was the first domestic benchmark transaction from a big four bank since mid June. The self-led deal was also the issuer's first transaction in the domestic market since January 13, when it priced A$2.5 billion of July 2015 notes at 105 basis points over swap.