Americas

Credit Suisse is set to move a financial institutions debt syndicate banker from his role in Europe to a position the US in the second quarter of 2020.

Mexican hotel operator Grupo Posadas became the first Latin American issuer to suffer a ratings action as a direct result of the Covid-19 coronavirus outbreak, with both tourism industry and capital markets conditions worsening while a bond maturity looms.

Even as yields in Latin America’s top-rated credits reach all-time lows amid a US Treasury rally, volatility will likely prove too tricky for most of the region’s issuers to navigate primary markets in the short term, said bankers.

Holders of Argentine sovereign bonds have until March 16 to identify themselves to the issuers as the government prepares to restructure $67bn of foreign law sovereign bonds.

Mexican non-bank lender AlphaCredit has launched a consent solicitation, as it seeks to make amendments to the indenture governing its 2022 notes.

Bank of Montreal reopened the dollar market for Yankee banks this week, using ‘shadow books’ to quickly wrap up the sale of its floating-rate note.

Financial industry lobbyists have told the US Commodity Futures Trading Commission (CFTC) that its proposed revisions to swap dealers’ and major swap participants’ capital requirements will have “a significant negative impact on the US swaps market”.

The US high grade bond market sprang back to life this week, as borrowers rode out a wave of volatility, helped by cash-rich investors and nimble pricing strategies.

Thierry Roland has been picked to lead HSBC’s new RWA Optimisation Unit, where the bank will put assets that do not meet its return requirement.

JP Morgan’s latest high-level reshuffle has put a crack team of dealmakers at the top of the firm, and opened room for new leaders to come up. But keeping senior bankers happy can be difficult, writes David Rothnie.

Mexico’s state-owned electric company Comisión Federal de Electricidad (CFE) turned to Taiwan’s bond market this week to sell a dollar bond — its latest foray into the Formosa bond market.

Chilean power generator Colbún saw its new 10 year bond rocket on the break as Latin American credit was driven tighter by a rally in global markets.