Wells Fargo Securities

Bank of America sold a floating rate note over the Bloomberg short-term bank yield index rather than Sofr this week, as Morgan Stanley added to the post earnings rush in dollars.

Corporate bond issues came at a healthy clip in the US market this week, despite earnings blackouts, as investors showed a preference for highly rated paper.

Public Storage wrapped up a quickfire acquisition financing in the US bond market this week, after supply slowed to a trickle as huge swathes of corporate America entered earnings blackouts.

Marvell Technology, the Bermuda-registered US chipmaker, jumped into the dollar bond market this week with a $2bn trade linked to a $10bn acquisition, after clinching the deal more quickly than expected.

BlackRock has signed a $4.4bn revolving credit agreement linked to gender and racial diversity metrics, becoming one of the most prominent companies globally to use key performance indicators focused on staff equality in its main bank line.

Wells Fargo has developed a coherent strategy for EMEA as it looks to meet demand for more choice from clients. But can it stand out from the crowd, asks David Rothnie.

Goldman Sachs led a bumper week of dollar bond supply this week, as the high-grade market showed its resilience and investors lapped up issuance from a broad array of bank and finance names.

Tyler Technologies, the US develop of software for local government, has raised $525m via the sale of new convertible bonds, capping off the busiest week of the year so far for US equity-linked issuance.

LondonMetric, the UK real estate investment trust, is marketing a private placement deal, according to market sources.

Non-European names hit the euro market this week with a trio of US companies and Japan’s Nippon Telegraph & Telephone Corp (NTT) raising debt. But syndicate bankers say rising US rates are still way off the sweet spot that would make the euro market irresistible for all Reverse Yankee issuers.

Europe’s high grade bond investors showed they are still willing to swallow ultra-thin spreads this week, when Dutch leasing company LeasePlan priced a green bond well inside fair value and Deutsche Boerse won ample demand for a thinly priced €1bn deal.

WP Carey, the US REIT, has mandated for a euro bond through its Dutch subsidiary, as Europe’s syndicate bankers say that there are signs in the rates market that Reverse Yankees could become a popular choice again.