Wells Fargo Securities

Anheuser-Busch InBev, the Belgian-Brazilian brewer, mandated a group of 21 banks to provide its $75bn loan facility, but there was no coordinator as AB InBev took an active role in arranging the transaction.

ICBC New York returned to the dollar bond market one year after its debut with a $1bn dual-tranche offering on November 5. While the deal was popular with Asian accounts, interest from the US was lukewarm because of the issuer’s aggressive pricing tactic.

Industrial and Commercial Bank of China New York has wrapped up its second offshore bond, sealing $1bn on November 5. But while Asian interest was strong, the issuer’s aggressive pricing tactic meant demand from US investors was lacklustre.

Senior loans bankers report they are working through the night to cope with the surge in Middle East loans, as even the Sultanate of Oman piled into the market to grab funding while it can. After all, the conditions will not last, writes Elly Whittaker.

Doha Bank is the latest lender to join the parade of financial institutions looking to gain access to Asian bank liquidity for their syndicated loans. The lender has launched a $500m fundraising that requires a chunky minimum commitment.

Industrial and Commercial Bank of China New York opened bookbuilding for a dual-tranche senior dollar bond on Thursday, while Future Land Development Holdings has started wooing high yield investors with a new two year offering.

FIG bankers breathed a sigh of relief at the US Federal Reserve’s proposal, released last Wednesday, for implementing Total Loss Absorbing Capacity (TLAC) rules for US Global Systemically Important Banks (G-SIBs), which is seen as less severe than may had anticipated. But the rule as proposed could damage secondary market liquidity.

October has been one of the worst months in recent years for FIG issuance. But while some stability — and even a couple of issuers — returned to markets this week, bankers fear that elevated premiums will keep issuance suppressed. November will reveal all about the state of FIG issuance, writes Tyler Davies.

Borrowers enjoyed tight pricing in the US market this week, as a sharp drop in supply helped bring stability to the market and triggered a fall in new issue premiums.

Wells Fargo got the week's financial institutions bond market off to a strong start with a large seven year deal giving syndicates hope that others would follow in euros this week. They were disappointed.

Wells Fargo printed an impressive second Swiss franc deal for the year on Thursday, attracting strong demand not only from retail and private banking investors but also asset managers, insurance and pension funds.

Wells Fargo secured strong demand for its longer dated senior paper on Monday, making it the second North American bank to target euros after third quarter results were published last week.