Wells Fargo Securities

Wells Fargo may have lifted the lid on a flurry of US senior trades in euros this week, opting for a rare but popular floating rate bond to become the first of the nation’s banks to head to Europe after reporting its results.

Deutsche Pfandbriefbank raised €500m of new funding on Monday as the FIG primary market made a quiet start to the week, but bankers contemplated whether visits from US banks could boost volumes during the height of reporting season.

Broadcom printed the biggest corporate trade of the year so far as yield hungry investors snapped up triple-B rated names ahead of US president-elect Donald Trump’s inauguration next week.

National Bank of Abu Dhabi signed a $2bn three year loan on Tuesday, cementing the bank group for its $175bn merger with First Gulf Bank, though some key European banks turned down a role on the deal.

A trio of Wall Street heavy-hitters plundered the dollar market as December got off to a flyer in the countdown to year end and a probable rate rise.

ICBC London raked in $500m from a new three year floating rate note on Monday, as the strength of its credit helped muster strong buy-side demand.

Abu Dhabi Commercial Bank increased the size of its first ever Asia focused loan from $300m to $600m in syndication, after pricing the deal generously to build relationships with new lenders.

CMB Financial Leasing Co launched its debut international dollar bond on Monday with three and five year tranches, as ICBC London rolled out a three year floating rate note.

Three corporate issuers pushed deals into a widening primary market on Wednesday with mixed results, as rates volatility kept new issue premiums elevated for borrowers.

Bank Muscat is preparing to refinance a $600m loan maturing in April next year and will likely aim to raise the same amount with its new facility, said one banker.

State-owned Abu Dhabi banks ADCB and NBAD have taken a very different approach to the loan market, with one bank paying up to bring in new lenders and the other demanding tight relationship pricing.

Seven deals launched Thursday as issuers came out in force to raise money ahead what is expected to be greater market uncertainty in November.