Americas

Bond investors and analysts expect Argentina to extend Friday’s restructuring deadline yet again amid continued promising signs that a deal is near, but some warn it is wrong to assume an agreement is a foregone conclusion.

H4, a fintech firm which has received investment from JP Morgan, Goldman Sachs, Barclays and Linklaters, is giving capital market participants the chance to move document creation and storage into the 21st century, chief executive Joe Seifert tells GlobalCapital.

Ten companies stepped back from the dollar bond market on Thursday after the US Federal Reserve's downbeat assessment of the economy's prospects had spooked investors on Wednesday.

As the highest yielding sovereigns in Latin America — excluding those explicitly on the path to restructuring — bonds from El Salvador and Costa Rica have finally caught a strong bid. But fiscal fundamentals are deteriorating sharply.

Cboe Global Markets is seeking to tap into the trend for mini and micro futures contracts by relaunching its mini VIX futures.

Market participants re-examined the prospects for covered bond supply in sterling this week in the wake of two deals from SSA borrowers in the currency. Spreads have tightened and issuance conditions have improved but that will have to be balanced against bargain basement priced funding available from central banks, bankers said on Thursday.

Chinese e-commerce company JD.com is set to raise HK$30.1bn ($3.87bn) from its Hong Kong secondary listing, according to a source familiar with the matter.

Equity capital market participants were in a gloomy mood on Thursday as global equity indices fell in response to the pessimistic tone from the US Federal Reserve. However, European markets remain open for primary capital raising transactions.

HSBC and Standard Chartered are facing a backlash from investors and politicians after publicly supporting China’s planned security law for Hong Kong.

The World Bank returned to the Canadian dollar on Wednesday with a new C$1.5bn ($1.11bn) sustainable development bond, as movements in the cross currency basis swap, as well as the spread to Canadian Mortgage Bonds (CMBs), allowed the supranational to print the largest SSA Maple deal since last July.

The US Federal Reserve’s whatever-it-takes approach to stabilising markets has had an unintended victim: serious discussions about debt relief in the emerging markets.

A group of institutional investors owning bonds issued by the Argentine Province of Córdoba has hired BroadSpan Capital and Mens Sana Advisors as financial advisors as the province works on a restructuring of its $1.685bn of international bonds.