Wells Fargo Securities
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Wells Fargo has hired a banker from Lloyds Bank to work on UK real money fixed income sales.
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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.
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The dollar market picked up where it left off in 2017 with tight pricing and bulging order books as borrowers hit the ground running.
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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.
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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.
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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.
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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.
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Two companies made their investment grade bow on Thursday as an improvement in sentiment encouraged borrowers to capitalise on decent conditions and wrap up funding in the final weeks of the year.
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The European high yield bond pipeline was stuffed with an array of mainly sub-benchmark deals this week, after issuance volume hit a historic high.
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The SSA dollar juggernaut is set to roll into a third day, with two deals on screens for Thursday’s business. Investor appetite shows no sign of letting up, as the two deals priced on Wednesday drew large books — as was seen with a host of trades a day earlier.
