Wells Fargo Securities

State Bank of India is getting ready to pick banks for a $750m refinancing, even as it is in the process of wrapping up an increased $500m syndicated facility.

Wall Street’s biggest firms wasted no time hitting the dollar market with total loss absorbing capacity (TLAC) related deals after unveiling a strong recovery in third quarter earnings.

Goldman is not the only US bank on the reputation radar this week. Wells Fargo’s sales scandal is a signal that, even in an industry as publicly loathed as banking (and we are well aware that the news media is another), reputation risk is to be taken seriously.

Industrial and Commercial Bank of China’s New York branch was forced to scrap a 10 year portion of a dual tranche bond on Monday because of a disagreement with investors over what it should pay. But all was not lost, as the issuer decided to make the most of the demand for the shorter tenor, taking home $1bn in the end, writes Addison Gong.

Wells Fargo took a rare decision to delay the launch of a dollar-denominated senior transaction this week, after S&P revised the bank’s ratings outlook to negative.

Industrial and Commercial Bank of China’s New York branch decided to scrap a 10 year portion of a dual-trancher on Monday, as mismatch on pricing led to investors shunning the tenor in favour of a five year.

Panama-based BAC International Bank is looking to Asia for a $75m three year borrowing, via two lead banks.

BDO Unibank in the Philippines and Industrial and Commercial Bank of China New York branch made their respective returns to the dollar bond market on Monday.

Wells Fargo chairman and chief executive John Stumpf has decided to retire with immediate effect, as the bank reels from the aftermath of the fake account scandal.

Abu Dhabi Commercial Bank (ADCB), which is seeking a $300m loan from Asian lenders, is offering four participation tickets with details on the levels now available.

Abu Dhabi Commercial Bank is raising a $300m new money loan from Asian lenders to tap a previously unused source of funding.

A jumbo bond intended to refinance the debt of merged companies Quintiles and IMS on Wednesday added to a deluge of high yield issuance, with the market seeing €4bn of new bonds by Thursday.