Americas

Moody’s has placed Peruvian miner Compañía de Minas Buenaventura’s B1 rating on review for downgrade, just as the company prepares a debut bond issue to repay a tax liability that has sharply increased its debt.

China’s Full Truck Alliance (FTA), an Uber-like service for trucks, is planning an IPO on the New York Stock Exchange, having filed a prospectus with the US regulator.

AstraZeneca, the UK drug company, showed the eager demand for merger and acquisition financings this week when it achieved ultra-tight pricing on a $7bn bond issue to fund its acquisition of US biotech firm Alexion Pharmaceuticals.

Latin American bond bankers expect several new deals to be announced after the May 31 Memorial Day holiday in the US, as borrowers look to get ahead of potential noise regarding the Federal Reserve tapering its policy stimulus. But investors appeared ambivalent this week about the prospect of a wave of new supply.

The Dominican Republic is likely to return to bond markets shortly with a local currency deal, after launching a tender offer for old bonds that is contingent on a new issue. Citi and JP Morgan are managing the liability management exercise — their fourth consecutive mandate with the Caribbean sovereign.

A favourable move in the basis swap allowed the Province of Quebec to return to the Swiss franc market after seven years away this week, landing its latest bond at a spread flat to its domestic curve.

GlobalCapital is delighted to announce the winners of its Americas Derivatives Awards for 2021.

Kanzhun, China’s largest online recruitment platform, is planning a $100m listing of American depository shares on the Nasdaq.

Chile, Peru and Colombia — previously hailed by EM investors for orthodox economic policymaking — are under pressure amid social unrest and political polarisation. But as the upheaval whirls around them, their credit in the bank with bondholders, after years of impressive debt management, is a major asset.

A majority of shareholders of Peruvian mining company Compañía de Minas Buenaventura have approved a motion to allow the company to sell up to $550m of bonds as it looks to finance a retroactive tax liability.

Grupo Axo, the Mexican fashion retailer, began investor calls on Monday ahead of a possible international bond debut that is being marketed just days after BlackRock made a $45m equity injection into the privately held company.

AMTD Digital, the digital unit of Hong Kong-based AMTD Group, has set in motion a $100m IPO on the New York Stock Exchange.