Americas

A group of institutional investors owning a portion of Suriname’s $550m of 2026 bonds and $125m of 2023s has hired Newstate Partners as adviser in anticipation of a request for debt payment relief from the South American country.

China’s decision to clamp down on Ant Group has derailed an IPO of at least $34bn, despite execution being finished last week. The move appears to be little more than political muscle-flexing by Beijing. The real winners will be the country’s critics.

Global equity markets have reversed earlier losses after former US vice-president Joe Biden gained momentum in the presidential race on Wednesday afternoon, giving capital markets bankers hope that a decisive result this week might be possible.

Convertible bond investors are preparing for elevated levels of volatility in the wake of the extremely close US election results, but many are waiting for more results in key states before taking a view on the direction of the market.

Equity markets awoke on Wednesday morning to an inconclusive US presidential election where there is no clear winner between US president Donald Trump and his challenger, former vice president Joe Biden. Equity capital markets are likely to remain shut for at least the next few days as they wait to find out who has won especially as vitriol between the candidates increases.

Argentine power company Gennaia is at risk of defaulting on its domestic dollar bonds as a result of capital controls issued by the Central Bank of Argentina (BCRA), Fitch said on Tuesday as it slashed the rating on the issuer’s international notes.

Ozon, the Russian e-commerce company, has filed its initial paperwork for a US listing that could be squeezed in before the end of the year.

New Oriental Education & Technology Group is set to raise HK$10.1bn ($1.3bn) as it guides investors toward final pricing for its secondary offering in Hong Kong.

Bond markets in Latin America were quiet on Monday ahead of Tuesday’s US election. But the Mexican peso, and bonds issued by state-owned oil giant Pemex, could be most vulnerable to a surprise or uncertain result given they are two of the most liquid assets in EM.

As the Argentine Province of Buenos Aires approaches six months in default, a creditor group holding nearly half of the issuer’s international bonds has hired a major international law firm and says it is “prepared to evaluate all available options”.

A group of real money investors owning a “significant portion” of Suriname’s international bonds are forming a creditor group to negotiate with the country, as a new government prepares to restructure its debt.

Ping An Insurance-backed Lufax Holdings is expected to price its American depositary shares at the top of guidance, following a large turnout from global heavyweight investors for its IPO.