Americas

Ecuador could take useful clues from Argentina’s debt restructuring, said analysts, as it prepares to present an offer to its bondholders having taken decisive economic measures in the past week.

Only in Argentina could a finance minister claim that default on billions of dollars of bonds constitutes merely an “anecdotal date”.

Citi picks Nick Darrant as syndicate head — And it sets up new sustainability and science units — JP Morgan reveals next layer of DCM, ECM and M&A bosses

A supranational and a Nordic bank paid rare visits to the Swiss franc market this week. The North American Development Bank (NADB) printed its first deal in two years — its second green bond — while Nordea returned after a five year absence.

Dollars was the favoured currency for public sector borrowers for the second week running this week, giving attractive funding conditions for euro borrowers amid strong investor demand, particularly in the 10 year part of the curve.

Isaac Deutsch, who led Sumitomo Mitsui Banking Corporation's Americas specialized finance division between 2012 and 2018 before becoming the firm's deputy Americas CEO, is said to have departed from the bank earlier this week.

Credit Suisse’s plan to launch a private credit opportunities fund has been undermined by a spying scandal, the departure of Jim Amine, and Covid-19, writes David Rothnie.

Chinese IPOs in the US came under renewed pressure this week after the US Senate passed legislation that could ban mainland companies from its stock exchanges and the Nasdaq said it intends to tighten the screws on regulations around listings. Jonathan Breen reports.

New York Stock Exchange-listed online gaming company Sea tapped equity-linked bond investors for $1bn this week, following a surge in its share price after it reported strong first quarter earnings.

As bondholders eagerly await details of a rescue package from Brazilian development lender BNDES to the three largest airlines operating in the country, the strongest credit in the sector coming into the Covid-19 crisis is now the perceived as the weakest.

Royal Bank of Scotland Group took advantage of the strong appetite for senior debt in dollars this week, issuing $1.6bn of funding across two tranches. The deal, which included the first dollar issuance of green UK bank paper, offered no premium to investors.

Nasdaq's board is planning to delist Luckin Coffee’s shares, after the Chinese company revealed fabricated accounts in April.