Americas

China's latest crackdown of three of its technology companies has a clear message for firms looking to list in the US — and investors wanting to buy their shares.

Rothschild & Co has hired Timothy Lufkin as a managing director covering financial sponsors within its global advisory business in New York. Lufkin previously worked at Truist and its predecessor, BB&T Capital Markets.

Sergio Díaz-Granados, executive director for Colombia at the Inter-American Development Bank (IADB), will become the new executive president of Latin American multilateral lender CAF in September after obtaining more votes than Argentine candidate Christian Asinelli.

Mexican car parts maker Nemak began meetings with European investors on Monday as it looks to become the first Latin America borrower to sell sustainability-linked bonds in more than one currency.

Colombia’s sovereign bonds experienced a modest sell-off on Friday after Fitch become the second rating agency in less than two months to downgrade the government’s credit rating to sub-investment grade. But analysts noted that the market was already largely expecting the downgrade, which is likely to limit further widening.

Brazilian bank BTG Pactual added $250m to its January 2025 notes on Thursday, targeting retail investors as it sought to raise shorter dated funding than on its last bond market outing at the start of the year.

Banks that have access to diverse pockets of demand will be far better equipped to deal with any contraction in central bank liquidity, which could occur if high inflation spooks policy makers and markets.

The Bank of Nova Scotia’s Chilean subsidiary turned to the Swiss franc for its debut international bond sale on Tuesday, achieving a cost of funding well inside what it could have achieved in the domestic market.

Chile turned to international investors for the fifth time this year on Wednesday — and the first time in local currency — to sell over $2bn-equivalent of social bonds, with foreign buyers taking nearly half the deal.

Brazilian financial name BTG Pactual is set to price a tap of its 4.5% senior unsecured January 2025s on Thursday, with bankers expecting the bank’s strong recent performance to outweigh a market starting to show signs of new issue fatigue after a busy June.

Canadian Imperial Bank of Commerce achieved a roaring success with its $2bn five year 144A deal priced on Wednesday, the first from a Canadian bank in over a year. CIBC managed to achieve a size and spread that would not have been possible in euros and showed the importance of paying attention to key currency markets outside Europe.

UBS has appointed global heads of equity capital markets for the first time in almost two years as the Swiss bank eyes opportunities in a booming IPO market.