Americas

Sandrine Ferdane has been appointed BNP Paribas’s new global head of financial institutions coverage (FIC), replacing José Placido, who has a new role as chief executive of the corporate and investment bank for the Americas.

A lack of supply relative to 2019 and much more aggressive central bank buying ensured that Banco Sabadell, Royal Bank of Canada, Deutsche Bank and RLB Oberösterreich were able to price their respective covered bonds flat to fair value on Monday.

Goldman Sachs is forming a Sustainable Solutions Council for its investment banking division, with four members for the Europe, Middle East and Africa region.

China’s challenger to Starbucks, Luckin Coffee, has raised $979.6m after increasing the size of a combined sale of new shares and a convertible bond, the first tap of the ADS equity-linked market in 2020.

Mexico’s head of public credit told GlobalCapital that he felt the government’s economic management was winning over investors after the sovereign notched a heavily oversubscribed dollar deal last week.

Embotelladora Andina, the third largest Coca-Cola bottler in Latin America and seventh largest in the world, will begin a roadshow on Monday ahead of an expected 10 year bond.

In this round-up, the Chinese Ministry of Finance (MoF) transferred 10% of its shares in three large commercial banks to the state-owned social security fund, the Shenzhen Stock Exchange is set to welcome a new chairman and the US treasury secretary has denied rumours of inaccurate translation of the phase one trade deal.

In this round-up, Chinese vice premier Liu He will visit Washington DC next Monday until Wednesday, the State Administration of Foreign Exchange sends its deputy administrator to Guangdong and the Financial Stability and Development Committee reaffirmed the importance of small and medium-sized enterprises.

The sustainability-linked loan market is a glorious mess.

The loan market’s trade bodies are preparing to give new guidance about how to ensure sustainability-linked loans — in which borrowers can get a margin reduction if they hit sustainability targets — are genuinely “ambitious”. Bankers want to protect the market from rising concerns that some deals’ terms are too easy on the borrowers.

Mexico returned to its role of opening Latin American bond markets for the year on Monday, triggering a slew of issuance from the region as bankers predict the bulk of 2020 supply will come in the first half.

Generation company Termocandelaria Power Limited (TPL) returned to capital markets on Thursday to start Colombian bond issuance for the year. The sovereign is expected to follow suit soon.