Americas

As Goldman Sachs hunts for incremental gains in its investment banking division, it need look no further than its European franchise, where it continues to trail JP Morgan, writes David Rothnie.

Gerald Keefe, Citi’s head of Asia Pacific corporate banking, is relocating to New York for a new senior position in the bank’s treasury and trade solutions (TTS) team.

Mexican state oil company Pemex will increase the size of its most recently issued bonds by more than initially planned after a debt exchange was comfortably oversubscribed.

Stephen Moss and Nuno Matos have been given new roles of responsibility for Europe at HSBC, ahead of expected restructuring of the group in that region, particularly in global banking and markets (GBM).

The US Federal Reserve board has permanently banned Andrea Vella, formerly a senior executive at Goldman Sachs, from the banking industry for his role in the 1Malaysia Development (1MDB) scandal.

Chilean mobile phone operator WOM took advantage of a better tone in bond markets on Tuesday to add $60m to its 2024 notes, first sold in November.

The Province of Buenos Aires agreed to make an overdue bond payment on Tuesday afternoon to dodge default by just one day, as analysts said Argentina had to avoid creditor conflict to meet a tight deadline to restructure its sovereign debt.

IBM Corporation issued a bond in euros on Tuesday, while Comcast Corporation and Dow Chemical came out with mandates in the currency. The deals come at a time when reverse Yankee issuance has been flagging compared with last year.

The Province of Quebec has hired banks to lead a new Canadian dollar green bond — its first since the start of last year.

The European Investment Bank and the Province of Quebec were well subscribed as they re-opened the dollar SSA market following the extended Lunar New Year holiday. Two more public sector borrowers will follow with dollar bonds on Wednesday, ahead of what is expected to be a busy month in the currency.

Credivalores, a Colombian consumer and payroll lender, had to navigate a more cautious bond market on Monday to clinch a five year deal that landed exactly where fellow non-bank lender AlphaCredit had priced a trade last week.

A group of Province of Buenos Aires creditors immediately backed the issuer after it significantly sweetened the terms on offer to bondholders in an attempt to dodge a default that could be just two days away.