Wells Fargo Securities

Five new investment grade corporate bond deals were priced on Tuesday and, while pricing was competitive, none of the issuers allowed for any growth in the size of the deals as all five used a no-grow strategy.

US chip maker Broadcom has received commitments from 12 lenders for a staggering $100bn funding package to finance its acquisition of technology company Qualcomm.

The US high grade bond market remained open for business through the market sell-off this week, underlining its resilience.

US high-grade corporates began to emerge from earnings blackout but few are predicting the usual flood of bond issuance as fears over rising inflation and the impact of tax reform could keep borrowers on the sidelines.

Wells Fargo has hired a banker from Lloyds Bank to work on UK real money fixed income sales.

Wall Street’s biggest banks hit the dollar bond market with multi-billion offerings after reporting fourth quarter earnings this week, and supply-starved investors piled into the new deals.

Leveraged loans have dominated leveraged buyout financing in recent months, but high yield bonds could be poised for a comeback, say European investors. Crown Holdings, the US can maker, added to early signs of optimism with its new €1.5bn cross-border bond offering this week, writes Victor Jimenez.

The dollar market picked up where it left off in 2017 with tight pricing and bulging order books as borrowers hit the ground running.

The Federal Reserve Board and the Federal Deposit Insurance Corporation said this week that the largest US banks had made ‘significant progress’ in drawing up resolution plans.

The year's total issuance of triple-C rated bonds in the European high yield market jumped from €4bn to more than €6bn this week. Many believe this could be the last week to bring new deals in 2017.

Industrial and Commercial Bank of China sold a dual-tranche floating rate transaction on Wednesday, getting significant interest from western accounts as it used its London arm as the issuing vehicle.

Industrial and Commercial Bank of China opened books for a dual-tranche floating rate dollar bond on Wednesday, to be sold through its London branch.