As part of the Belt and Road Initiative, the "mega-project" development strategy of the Chinese government, its fourth-largest state-owned lender, Bank of China, has mandated banks across the globe to arrange a series of fixed income investor conference calls with Asia Pacific and European investors commencing this week.A note from a banker working at one of the mandated joint global coordinators has indicated a mix of US dollar-, Euro-, British pound- and/or Australian dollar-denominated senior notes may be issued by various branches of the Bank under its medium term note programme, "subject to market conditions". These notes will be of short-to-intermediate maturity and may be issued as both fixed and floating rates under various regulatory regimes and for a variety of terms. Most of the proposed note issues will be of "benchmark" size, which has generally been viewed by markets as being of a minimum US$500 million (that is, for any and all major dollar-based currencies, euros or UK pounds). If so, and all roadshows in all markets are successful, the minimum value of notes issued will be at least A$2.5 billion.The bankers involved in the deal said they expect the notes to be rated A1 by Moody's, A by S&P and A by Fitch. These ratings would line up with Bank of China's own standalone issuer ratings.Specific currencies and details of the proposed note offerings are listed below (and please note - these details should not be forwarded to anyone in the US): NZ dollar-denominated short-to-intermediate maturity fixed or floating senior notes may be issued by Bank of China (New Zealand) Limited (guaranteed by the Bank) under the New Zealand subsidiary's domestic New Zealand MTN Programme, "subject to market conditions". The NZD notes are expected to be rated A1 by Moody's and A by S&P. And, if this NZD deal, or a proposed benchmark offering (see final dot point, below) is successful, it would be a quick turnaround for the Bank of China: the Reserve Bank of New Zealand registered BoC last Thursday (ie, 28 March) to provide banking services in the country, the second Chinese bank to get a licence there in roughly three months, Reuters reported. Elsewhere in the region, the Bank of China Limited Singapore Branch has mandated Bank of China, Citigroup, DBS Bank, OCBC Bank, Standard Chartered Bank and Mizuho Securities as joint global coordinators, joint bookrunners and joint lead managers for a proposed US dollar benchmark notes offering, to be run out from Singapore. Bank of China Limited Luxembourg Branch has mandated Bank of China, Citigroup, Commerzbank, Crédit Agricole CIB and ING as joint global coordinators, joint bookrunners and joint lead managers for a proposed euro-denominated benchmark notes offering. Bank of China Limited London Branch has mandated Bank of China, Citigroup, Barclays and HSBC as joint global coordinators, joint bookrunners and joint lead managers for a proposed British pounds benchmark notes offering. Bank of China Limited Sydney Branch has mandated Bank of China, Citigroup, ANZ, UBS and Westpac as joint