Americas

China’s Xiaopeng Motors, an electric vehicle (EV) maker, leveraged on a big boost in interest in new energy stocks from investors to raise $2.16bn from a follow-on offering of its American Depositary Shares. Jonathan Breen reports.

Latin American power generation company EnfraGen debuted in the international bond markets on Wednesday, benefiting from the strong performance from the region’s last power sector issue to price inside where some investors were expecting — despite a leverage ratio of nine times.

UEP Penonomé, the company behind Panama’s first wind farm, turned to bond markets for the first time on Wednesday for a $262.664m senior secured amortising bond.

Colombia’s finance ministry said on Wednesday evening that it had taken the “first step to entering the bond market for sustainable development” after Congress approved the issue of thematic bonds.

Singapore-based consumer internet company Sea, whose New York-listed shares have soared by more than 400% this year, is looking to take advantage of that positive sentiment to raise around $2bn from a new equity offering.

The coronavirus crisis, new challengers, technology and capital requirements threaten to shake up the banking sector — and banks are likely to shift business models substantially, according to management consultancy firm Arthur D Little.

Investment bankers have piled up heaps of revenue for their firms this year, but their employers may feel the need not to be too generous with bonuses in the first few months of next year.

The Dominican Republic refinanced the bulk of its 2021 bond maturities on Monday with a tap of its 12 year bonds that took international issuance from Latin American sovereigns to record annual volumes.

Barclays has invited holders of some of its legacy tier two bonds to exchange their notes for cash, as it looks to smarten up its debt capital structure.

Paraguayan beef exporter Frigorífico Concepción held calls with bond investors on Monday as it looks to tap its only international bond for the second time.

Chilean government-owned copper producer Corporación Nacional del Cobre de Chile (Chile) became the latest Latin American borrower to take advantage of rock-bottom bond yields to refinance existing debt at historically low yields.

Chinese electric vehicle manufacturer Xpeng is selling a chunk of new American Depository Shares (ADS) to fund research and development and further expansion.