Wells Fargo Securities

The US FIG market returned to normality after the deluge of the previous week’s supply subsided.

The subordinated debt market for European financials was back in full swing with four deals out on Monday morning boosted by the European Central Bank's policy decisions made last week.

British cigarette maker Imperial Tobacco has secured financing for its $7.1bn acquisition of brands from Reynolds American, and refinanced its existing revolving credit facilities.

UBS and Wells Fargo were rewarded for taking to a supply hungry Australian dollar market this week. Both issuers — particularly UBS — are rare names in the currency which, combined with strong name recognition among domestic investors, propelled their trades to success.

UBS is set to make a rare appearance in the Australian dollar market on Wednesday with leads offering guidance on a dual tranche five year print. The trade follows a Kangaroo sale at the long end of the curve from Wells Fargo, priced on Tuesday.

The Swiss franc market’s summer hiatus looks to be coming to an early end with Credit Suisse and Wells Fargo selling well received deals in Swiss francs this week.

Wells Fargo burst into the Swiss franc market with its debut trade in the currency on Wednesday. The issuer’s solid name recognition among local investors and an appreciation for its large retail banking operation allowed the issuer to exceed its original size ambitions despite pricing comfortably inside of other US banks.

The Swiss franc market’s summer hiatus looks to be coming to an early end with Wells Fargo set to sell its debut Swiss franc trade on Wednesday afternoon, opting for a dual tranche print. The deal adds to a recent spate of issuance, which stands in contrast to a moribund primary market in euros.

Wells Fargo made a rare visit to the Australian dollar market with a A$900m dual-trancher, pricing close to the leading Australian banks' bonds.

Wells Fargo made a rare visit to the Australian dollar market with a A$900m dual-trancher, pricing close to the leading Australian banks' bonds.

Financials dominated the US investment grade issuance calendar this week as investors refused to be put off by geopolitical risks.

A tinge of risk-aversion crept into the US corporate bond market on Thursday, as investors digested the US government’s decision to broaden its sanctions on Russia over the situation in Ukraine.