Americas

US corporate bond bankers predict a final flurry of issuance before year end, though there have been no deals this week ahead of the Thanksgiving holiday, and after treasury secretary Steven Mnuchin moved to stop some quantitative easing.

More airlines are expected to issue new shares and convertible bonds over the coming months as the industry prepares for a recovery in 2021, spurred by the widespread availability of Covid-19 vaccines.

Guatemala has settled a long-running legal dispute with Florida-based Teco Energy, allowing it to pay bondholders and avoid defaulting on an international bond.

Central American sovereign Belize could be at risk of requiring yet another rescheduling of its bond payments, said analysts, as its debt reaches unsustainable levels and with the temporary relief that creditors granted earlier in the pandemic likely to be insufficient.

Peru plans to return to its pre-pandemic strategy of focussing raising its funding from local currency markets, said the country’s director of public treasury after the sovereign became the fourth Latin American sovereign to sell a century bond on Monday as part of a $4bn deal.

Stuart Taylor, who helped set up bond market data business Algomi, has joined MUFG's global markets business as head of electronic trading.

Ozon, the Russian e-commerce company, completed its IPO on the Nasdaq on Tuesday having built a huge order book for the stock.

Singapore-based Tiga Acquisition Corp has raised $240m after increasing the size of its New York Stock Exchange IPO.

Peru grabbed the bond market’s attention on Monday with a $4bn triple-tranche issue including a 100 year bond despite the country being on its third president this month. But the country’s public treasury director said it was the all-in yield, not the desire to make headlines, that drove Peru to become the fourth Latin American borrower ever to sell a century bond.

Peru will become the fourth Latin American borrower to issue a century bond on Monday, selling a triple-tranche dollar issue including a 100-year bond despite the fact that the the country is on its third president this month.

International investors have remained sanguine about the chances of a restructuring of Bolivia’s sovereign bonds even after the finance minister said the recently elected government was seeking payment relief on some external debt.

Julio Velarde, the governor of the central bank of Peru (BCRP), insisted that the country had broad access to international financial markets as the sovereign’s bond spreads more than recovered the ground lost during recent political volatility.