By Matt Tracy
(Reuters) – Three of the six largest U.S. banks announced new bond issues on Tuesday, kicking off an expected heavy week for new bank debt.
Wells Fargo is tapping the bond market on Tuesday for either or both of fixed and floating-rate notes, in addition to senior unsecured fixed-to-floating rate notes.
Meanwhile, JPMorgan and Morgan Stanley announced they are seeking to issue four tranches with different maturities of senior unsecured notes.
The banks did not disclose the exact amount of debt they are seeking. Both deals are expected to price on Tuesday.
The deals follow a long list of Friday earnings releases from these and other global systemically important banks (GSIBs).
In addition to Wells Fargo, JPMorgan and Morgan Stanley, other banks that reported fourth quarter earnings on Friday and Tuesday include Bank of America, BNY Mellon and Citigroup and Goldman Sachs.
January has historically been the biggest month for…
