Americas

Latin American bond market participants away from Costa Rica’s proposed $1.5bn cross-border issue said they thought the deal would find strong demand as the Central American nation announced a roadshow amid friendly market conditions on Tuesday.

EMEA equity capital markets houses are finding a receptive audience for accelerated share sales as stockmarket indices hit new highs. But despite this, IPOs still face difficulties.

YX Asset Recovery, a Chinese consumer debt restructuring specialist, has started gauging investor appetite for an IPO of around $200m on the The New York Stock Exchange.

The Province of Alberta came to market on Tuesday for a five year dollar global bond, paving the way for the Swedish Export Credit Corporation (SEK), which announced that it will hit the three year bucket on Wednesday.

Strong technicals continue to drive international bond markets in Latin America as Brazil on Monday became the latest sovereign to take advantage of low rates and push out debt maturities with a 'blowout' dual tranche deal.

The Province of Alberta has announced a five year dollar benchmark, hitting screens with initial price thoughts for the borrower's second dollar benchmark of 2019.

Shanghai Fosun Pharmaceutical Group, which bought Indian company Gland Pharma in 2016, is planning to list the subsidiary on the National Stock Exchange of India and the BSE.

Empresa de Telecomunicaciones de Bogotá (ETB), the Colombian telecoms company majority owned by the City of Bogotá, is looking to buy back up to Ps400tr ($120m) of its global local currency bonds.

In this round-up, the US and China held another round of phone calls on trade last Friday, China officially launched the 5G mobile network and the rise in Caixin Purchasing Managers’ Index (PMI) was at odds with the slump in the official PMI.

In this round-up, the Chinese Communist Party (CCP) said it will strengthen the country’s ideological and institutional design, the Chilean government called off a planned Apec meeting and the State Administration for Market Regulation (SAMR) and the People’s Bank of China released a list of certified fintech products.

The only two corporate issuers from Latin America this week sailed through primary markets as bankers said low rates and technical factors would continue to override socio-political volatility and sluggish economies in the region.

After bankers said Braskem’s blow-out bond issue this week was a vote of confidence for Brazil’s economic turnaround, a small single-B rated bank and an infrastructure company that underwent a restructuring just a year ago a set out to provide a tougher test of demand.