Wells Fargo collects huge book on euro market return
Wells Fargo made a strong return to the euro senior market on Thursday with a 10 year bond that had drawn a €5bn book by 10am, taking advantage of funding costs more competitive relative to its domestic dollar market than they have been for many years.
At the time of writing, the US bank was set to price a 1.5bn deal at 85bp over mid-swaps.
Leads Barclays, Credit Suisse, Deutsche Bank and Wells Fargo brought the 10 year euro bond with initial price thoughts of 100bp over mid-swaps area, later revised down to 90bp area
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