Americas

Martín Guzmán, Argentina’s finance minister, said on Monday that 93.5% of international bondholders had participated in the sovereign’s debt restructuring as he promised to deliver a budget by the middle of the month.

Colombian airline Avianca is confident it will be able to exit bankruptcy soon after the Colombian government said it would provide just over 30% of the new money required in the company’s proposed debtor-in-possession (DIP) financing — much to the shock of some politicians in the country.

Ecuador has passed the final hurdle on its way to completing the restructuring of its $17.4bn of international bonds after reaching an agreement on a new IMF programme.

This week in Keeping Tabs: the prospect of financial repression in the UK, an easier passage for emerging market central banks, and Alphabet partnering up with Swiss Re.

K12, the US provider of software for the online education of schoolchildren, has issued a $360m convertible bond, at the end of another busy month for US equity-linked debt issuance.

Chinese smart electric vehicle maker Nio has launched an accelerated follow-on offering, riding on the strong support seen for the US listings of its competitors in the past month.

Bond investors said Argentina’s formal approach to the International Monetary Fund this week was a positive, if expected, development, but that it was still very uncertain whether the government would keep to a moderate path.

A bumper order book allowed Mexican bottling company Coca-Cola Femsa to sell a debut green bond inside guidance and inside its own curve this week, as the green aspect of the deal further broadened the audience for a credit that already holds diverse appeal.

The dollar corporate bond market skipped the summer slowdown this year. This week Royalty Pharma issued its first bond as a public company and pushed August's total issuance above $100bn for the first time ever.

Nomura has cut jobs in its investment banking business in Europe over the summer, following losses in leveraged finance, as its new chief executive eyes up other regions for growth, writes David Rothnie.

Chinese electric vehicle manufacturer XPeng raised $1.5bn this week, after increasing the size of its US listing and pricing it above the marketed range.

Tencent Music Entertainment Group (TME) attracted nearly $13bn of orders for its offshore bond debut this week. The company’s solid credit profile and backing from its parent helped win over investors. Morgan Davis reports.