Santander

The first sterling senior unsecured FIG deals to hit the market since the Brexit vote brought in astonishing demand, first for a blockbuster £1bn trade from Wells Fargo, followed by a bond from Bank of America Merrill Lynch that brought total sterling issuance to £1.75bn on the week.

Naviera Armas, the Spanish passenger and cargo ferry operator, on Thursday offered its first ever bond. Naviera's bond is also the first debut in the post-Brexit high yield market, which has been dominated by southern European borrowers.

Spain drew nearly €30bn of orders for a new €6bn 10 year benchmark on Tuesday, as Cyprus tightened pricing by 20bp on a seven year deal.

The sterling denominated FIG market awakened on Tuesday with news of the first deals since the UK’s vote to leave the EU on June 23.

Argentine infrastructure group Clisa (Compañía Latinoamericana de Infraestructura & Servicios) will buy back at least 80% of its 11.5% bonds due 2019 after receiving a strong response to a tender offer.

Spain is lining up its second 10 year euro benchmark of the year, as bankers responded to a question about market conditions with: “It’s game on.”

Brazilian industrial conglomerate Cosan followed the strategy of its compatriot Petrobras on Monday, tapping recently issued bonds after a strong response to a tender offer.

Latin American DCM bankers are hoping that Transelec’s blow-out bond issue on Thursday will encourage more investment grade issuers from the region to come to market, saying that deal’s success was in part down to the short supply of triple-B corporates in primary markets.

Compañía Latinoamericana de Infraestructura & Servicios (Clisa), the Argentine infrastructure group, will open books on a new seven year bond on Monday, according to a local filing.

Argentine infrastructure company Compañía Latinoamericana de Infraestructura & Servicios (Clisa) is meeting fixed income investors ahead of a liability management exercise that highlights the stark improvement in the outlook for Argentine companies this year.

Two of the five US subsidiaries of European banks under the Federal Reserve’s supervision failed the regulator’s stress test this week, despite having some of the highest common equity tier one ratios under the Fed’s worst case scenario. The banks, mostly with US headquarters, that passed largely plan to increase dividends and buybacks

The Loan Market Association appointed four new board members at its annual general meeting this week