Americas

Peruvian food retail and pharmacy group InRetail Consumer took advantage of calmer markets and the scarcity value of Peruvian corporates to achieve higher oversubscription and greater pricing compression than any Latin American new issue since February 18. on the way to a $600m seven year on Thursday.

As financial institutions across asset classes raised gender-themed funding this week, Colombia’s vice-president Marta Lucía Ramirez took International Women’s Day as a chance to hail the potential of the sovereign using bond markets to fund its gender equality initiatives.

Any fears about the resilience of the US corporate bond market were set aside on Thursday when Verizon Communications amassed a $115bn orderbook and printed one of the biggest deals of the year.

A selloff of growth stocks and primary market indigestion have taken some of the steam out of the booming US convertible bond market, but it remains open to new issuers.

L Catterton Asia Acquisition Corp has bagged $250m from its Nasdaq IPO, as it becomes the latest special purpose acquisition company (Spac) focused on Asia to list in the US.

Secondary listings in Hong Kong got a fresh boost this week with online car marketplace Autohome pricing its deal and internet giant Baidu getting ready to roll out its transaction. More homecomings by US-listed Chinese companies are in the pipeline, but the number of viable candidates is shrinking, writes Jonathan Breen.

Coupang, a South Korean e-commerce company, scooped up $4.2bn from its IPO this week, after pricing the deal above the marketed range. It is the largest US listing from Asia since Alibaba Group Holding raised $25bn seven years ago.

As Colombia works on the initial stages of developing a social bond framework, the sovereign has identified gender and immigration as two of its key pillars.

Chilean cable company VTR brought life to the Latin America primary bond market on Wednesday, but the company was unable to tighten its new senior-secured eight-year deal beyond guidance as markets are remaining functional but cautious in the face of rising US Treasury yields, said bankers.

The US Treasury is in the midst of a busy week, set to raise some $120bn across three auctions. Its first outing — $58bn of three year paper on Tuesday — was a success, but the 10 and 30 year outings on Wednesday and Thursday could be more of a challenge.

South Korean e-commerce company Coupang has increased the price range for its US IPO a day before wrapping up the deal, now putting proceeds of up to $4.08bn within reach.

Holders of more than 96% of Entre Rios bonds participated in a consent solicitation that will grant the issuer debt relief and see creditors abandon legal action, leaving just three Argentine provinces in default.