Americas

Banistmo, Panama’s second largest lender tightened pricing sharply on a seven year bond on Tuesday as bankers said the market was still in excellent shape, though others thought the bank had been too conservative with its pricing strategy.

In recent weeks, Argentina’s PR agency has been cramming the inboxes of financial journalists as the government goes on the attack in an apparent attempt to guilt-trip dissenting creditors into accepting its restructuring offer.

Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, July 27. The source for secondary trading levels is ICE Data Services.

Equity bankers have expressed fear that issuing IPOs this autumn is set to be far harder than expected, with Covd-19 showing little sign of abating and a second wave feared in the colder months.

The Inter-American Development Bank (IADB) said on Monday that it would elect its next president virtually in September as it rescheduled its annual meetings for the second time.

After Argentina said on Saturday that it was looking at improving the legal — but not financial — terms of its latest exchange offer. Dissenting bondholders have united further and now say they hold more than half the sovereign’s outstanding notes.

HSBC has become the latest bank to create a dedicated team for sustainable finance amid the coronavirus crisis. This is part of a new strategic solutions group, which will also house two other solutions units: one for corporate finance, and one for financial institutions and capital.

Li Auto, a Chinese electric vehicle maker, has opened books for an offering of American Depository Shares (ADS) on the Nasdaq.

Brazilian food group BRF wrapped up a now rare cash tender for existing bonds on Friday, buying back just under $300m of debt.

Government-owned lender Banco Nacional de Panamá could debut in bond markets this week after mandating for a Reg S-only guaranteed deal, GlobalCapital understands.

In this round-up, the already fraught relationship between the US and China faces fresh tests, as both countries continue announcing retaliatory measures against each other.

Latin American bond bankers say they expect new issuance to come at a calmer pace for the next few weeks, with just two Brazilian companies the only borrowers from the region to venture into primary markets this week.