Bank supply in focus; Wells Fargo, JPMorgan, ANZ, AerCap price notes; Hercules plans tap

By Cristal Cody

Tupelo, Miss., Jan. 16 – Bank and financial issuers tapped the primary market on Tuesday with more supply expected in the space over the month.

Wells Fargo Bank NA came with a $6 billion four-tranche offering of notes.

JPMorgan Chase & Co. priced $4 billion of notes in two tranches in the first session after the financial services company posted fourth quarter earnings on Friday.

Also, ANZ New Zealand International Ltd. sold $1.5 billion of senior notes in two parts.

Market focus remains on bank earnings with Citigroup Inc. reporting its earnings on Tuesday, Bank of America Corp. and Goldman Sachs Group, Inc. releasing earnings reports on Wednesday and Morgan Stanley due with its earnings report on Thursday.

The short market week is expected to see heavy bond issuance with some syndicate sources forecasting as much as $35 billion of volume.

In other issuance on Tuesday, AerCap Ireland Capital DAC and AerCap Global Aviation Trust priced $1.15 billion of guaranteed senior notes in two tranches.

Also, Hercules Capital, Inc. announced it intends to return to the primary market to reopen its first investment-grade bond. The company plans to tap its 4.625% notes due Oct. 23, 2022 (/BBB-/) via Citigroup Global Markets Inc., Jefferies & Co. and Wells Fargo Securities, LLC.

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