Americas

CPPIB Capital raised $1bn with a 10 year bond this week but despite the deal securing the issuer’s lowest ever funding cost at that tenor, bankers were unimpressed by the level of demand, adding to claims that demand for 10 year paper is waning.

Deutsche Bank is relying on a tight team of loyalists to revive its corporate finance ambitions, writes David Rothnie.

Just four days after extending the expiry date on an exchange offer, Telecom Argentina has given up trying to persuade bondholders to swap existing 2021s for a combination of longer-dated bonds and cash.

China’s FangDD Network Group has kicked off a roadshow for the listing of American Depository Shares (ADS) on the Nasdaq.

Investors have taken to Chinese education platform Youdao, covering its $101m IPO multiple times over days before the end of bookbuilding, according to a source close to the deal.

Brazilian petrochemicals firm Braskem will look to issue new debt to finance a tender offer for three different short-dated bonds.

Central American development bank Cabei will look to issue its first public green bond in around two weeks as it attempts to enter the universe of true SSA borrowers with a first dollar benchmark in seven years.

CPPIB Capital underwhelmed with its return to the 10 year dollar market on Tuesday, giving further evidence of slowing demand following a string of trades in this part of the curve in recent weeks.

Royal Bank of Canada was able to raise £400m of senior funding as though it was on 'autopilot' in the sterling market this week. It is the third Canadian issuer in a month to seek funding in this currency counting as total loss-absorbing capacity (TLAC).

Brazilian port terminal owner Prumo Participações e Investimentos should be able to tighten pricing by quite some way on Tuesday after announcing initial price thoughts that offered a generous pick-up of to similarly rated Brazilian credits.

CPPIB Capital has begun marketing its first 10 year dollar bond in two years as it looks to become the latest public sector borrower to visit this part of the curve, despite the underwhelming demand for World Bank’s trade last week.

The prime minister of Barbados told GlobalCapital’s sister publication GlobalMarkets that she hoped more vulnerable nations would adopt natural disaster clauses in their debt documents to protect themselves from climate events.