Americas

Standard Chartered this week became the first bank to launch a Sofr-linked deal in the 144A/Reg S dollar market, as it looked to introduce the Libor replacement rate to a more global audience.

Chilean copper mining company Antofagasta, the longest continuously listed company on the London Stock Exchange, clinched its first international bond on Thursday as Latin American bond markets continued their recovery from recent wobbles.

Mexican state-owned oil company Pemex offered a winning mix of liquidity and yield on Thursday when it made its first visit to the bond markets since January with a deal that was smaller and shorter in maturity than its usual offerings.

Companies continued to find willing buyers in the US bond market this week, even as equity markets seesawed over the prospects of further economic stimulus.

Investors’ fears over the disruption the US presidential election and rising Covid-19 cases could bring to equity markets became a grim reality this week as volatility buffeted IPOs. With three weeks until the vote, all eyes are on how much damage US president Donald Trump and Joe Biden will do to the primary equity capital markets, writes Sam Kerr.

Chilean energy company Empresa Eléctrica Angamos will repurchase nearly 80% of its bonds due 2029 after achieving strong participation in a tender offer despite the complaints of one bondholder advocacy group.

A top-level reshuffle suggests that Barclays chief executive Jes Staley is not going anywhere, but raises fresh questions about whether the bank’s top-five ambitions are achievable, writes David Rothnie.

Chinese peer-to-peer lender Lufax Holding filed IPO paperwork in the US on Wednesday for what is expected to be a jumbo listing.

The Commonwealth of the Bahamas set initial price thoughts on a new 12 year bond on Wednesday. The deal is set to test demand for riskier emerging market credit. Pricing is expected on Thursday.

Costa Rica’s bonds have fallen this week after the government cancelled a proposed tax hike that it was planning to bring to discussions with the IMF. The bonds could still be vulnerable as analysts say there remain questions over the viability of a programme with the Fund.

Chilean energy company Empresa Eléctrica Angamos will repurchase nearly 80% of its bonds due 2029 after achieving strong participation in a tender offer despite the complaints of one bondholder advocacy group.

The Commonwealth of the Bahamas could tap bond markets later this week to fund budgetary spending, GlobalCapital understands.