Americas

Minerva and Marfrig, the Brazilian meatpacking rivals, said on Monday that they would prepay dollar bonds as part of continued efforts to reduce leverage.

The International Monetary Fund said in the concluding statement of last week’s Article IV mission to Belize that the government needs to restructure its debts to restore public debt sustainability, leaving bondholders bracing for a fifth credit event since 2007.

Fitch downgraded Mexican broadcaster TV Azteca from C to restricted default (RD) on Friday after the 30 day grace period expired on a missed coupon payment. The rating agency is forecasting recoveries for bondholders in the 31%-50% range.

China’s Tuya, an internet-of-things cloud platform provider, has kicked off the roadshow for its US listing. It is aiming to raise up to $871.8m.

Faltering momentum in Latin American bond issuance has put this year's unprecedented surge of green and sustainable deals on pause. But even if volatility persists, as global bond markets deal with rising US interest rates, LatAm issuers will not only maintain their focus on ESG, but they may find sustainability credentials are more valuable than ever.

Former Olympic gymnast and billionaire entrepreneur Li Ning, founder of sportswear brand Li-Ning, has set up a blank cheque firm targeting the Chinese consumer sector.

Chinese internet giant Baidu has met with a rapid flood of early demand for its Hong Kong secondary offering, which is expected to raise around $3bn.

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.