Wells Fargo Securities
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Wall Street heavyweights returned in force to the dollar market with a string of multi-billion dollar trades after posting strong second quarter earnings. -
One of Wells Fargo’s senior loans team has left the bank.
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Jonathan Bock, who previously held the role of managing director and senior equity analyst at Wells Fargo, will become a managing director on Barings’ global private finance platform.
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Carmakers took advantage of a light calendar and an improving backdrop to reopen the dollar bond market after a week-long supply drought.
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The US dollar bond market ended a record-breaking month on a downbeat note as borrowers stayed on the sidelines amid a poor technical backdrop. Charter Communications became the first SEC registered issuer of the week on Thursday with a long five year trade and the only two other benchmark trades were from 144A issuers on Tuesday.
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US firm Comcast has doubled down on its jumbo acquisition plans by offering to buy 21st Century Fox in an all cash $65bn deal that the cable company says it will run concurrently with its bid against the purchase target for UK media company Sky.
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Bank of China’s Luxembourg branch has signed a $1.05bn syndicated loan after launching the deal at half that amount in the latest display of lenders scrambling to allocate funds.
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Sweden’s Lundin Petroleum has slashed 90bp off the margin of its $5bn reserves-based lending facility, as borrowers continue to heap pressure on lenders over pricing.
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DBS Group Holdings gave US investors the opportunity to lay their hands on a rare Singaporean bank tier two bond in the 144A format this week, raising $750m despite a crowded primary market.
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Keurig Green Mountain enjoyed the best of dollar bond market conditions as investors drank deep before a spike in US Treasury rates sent borrowers scurrying to the sidelines.
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GlaxoSmithKline added to the crush of red hot dollar bond supply this week, as borrowers began a spring stampede to lock in funding ahead of a likely rate rise next month.
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After four years away from the high yield market, UK North Sea operator Ithaca Energy was back with a bond refinancing deal this week, as European oil and gas issuance runs well ahead of last year’s pace.
