Americas

The US Office of the Comptroller of the Currency (OCC) is urging local officials to ease their Covid-19 lockdown measures, warning that some banks are now suffering delinquency rates in the mid-double digits on their small business loan books.

China’s Dada Nexus, an operator of on-demand retail and delivery platforms, has launched bookbuilding for its up to $280.5m US listing, according to a source familiar with the matter.

Colombia may have arrived late to the coronavirus-era Latin American sovereign bond market party, but the wait paid off on Monday as the sovereign notched a dual tranche $2.5bn issue that included its lowest ever coupon on a long dated bond.

Mexican cement maker Cemex is likely to announce a new dollar bond first thing on Tuesday after holding investor calls on the same day Fitch downgraded the borrower and placed it on negative outlook.

Online game developer NetEase has begun bookbuilding for its long-awaited Hong Kong secondary offering. The company is aiming to raise around HK$21.6bn ($2.8bn).

Argentina said on Monday evening that a new proposal to creditors was imminent after the government again extended the participation deadline in its restructuring. Optimism continues to grow over the chances of an agreement — even as an IMF statement on the process triggered forthright responses from bondholders.

A pair of foreign banks mandated senior unsecured Australian dollar transactions on Monday: Sumitomo Mitsui Banking Corp is out with initial price thoughts through its Sydney branch, while the Canadian Imperial Bank of Commerce is preparing a Kangaroo benchmark.

US-listed internet giant NetEase is set to launch its Hong Kong secondary public offering, after getting the green light from the city’s stock exchange.

Biopharmaceutical company Legend Biotech Corp has kicked off bookbuilding for its Nasdaq IPO of up to $368.5m, according to a source familiar with the matter.

Suriname’s sovereign bonds traded up in the wake of last week’s elections, despite doubts over a looming debt payment and even as a candidate who has promised discussions over the country’s rapidly rising debt stock looks to be nearing power.

Alberta made its first foray into the Norwegian kroner market on Thursday — the same day that S&P placed the province’s credit outlook on negative.

Each week, the very best of what our newsroom have found most useful, interesting and informative from around the web. This week: what being in charge of a leading reserve currency actually means, how business travel might return, and a power play from Warrington Borough Council.