Wells Fargo Securities

Investec has entered the loan market for the third time this year, taking a $450m two year term loan from a range of international lenders.

Bank issuers led a flurry of dollar bond deals this week, as they dashed to wrap up funding before year end and ahead of the US Federal Reserve’s final meeting of 2019.

Fidelity National Information Services, the US financial software company, returned to the euro and sterling bond markets with a second multi-tranche deal in six months to raise €2.6bn-equivalent of debt on Thursday, though it printed fewer tranches than the market was expecting.

Goldman Sachs set the lowest coupon of 2019 on a new preferred deal in the institutional bond market this week, while BNP Paribas buried the memory of its troubled dollar trade in January with a storming come-back.

AbbVie enjoyed the undivided attention of US bond investors on Tuesday when it hit the market with a $30bn 10 tranche deal that, remarkably for such a big deal, priced with a negative new issue concession.

National Express printed a £250m nine year bond at what looked like a zero concession to its curve on Wednesday, overcoming some sharp moves in the Gilt market.

The US Commodity Futures Trading Commission on Friday ordered Wells Fargo to pay over $14m for its conduct involving a FX forward contract and compliance failures.

High grade dollar bond investors are braced for the biggest deal of the year after AbbVie, the pharmaceutical company, appointed a trio of banks to lead a possible $25bn issue that could come as soon as Monday.

National Express and Citycon mandated banks on Thursday for bond issues, piling into the November issuance spree before the market goes into hibernation next month.

The US’s Colgate Palmolive brought a €1bn dual tranche bond on Monday, in a deal that bankers reckon is the 'tip of the iceberg' of euro issuance this week.

Wells Fargo made a stylish return to the dollar market on Thursday following its earnings blackout, by printing a $6.5bn callable trade.

BAC International Bank has returned to the loan market, seeking $100m from a global syndicate.