Americas

Banco de Crédito del Perú (BCP) could raise over $1bn-equivalent of dollar and nuevo sol denominated bonds in international markets as it looks to fund a buy-back of senior debt.

BBVA was marketing an additional tier one bond on Wednesday, making use of the favourable conditions that other issuers have found for similar instruments in the dollar market, while BNP Paribas, Bank of Nova Scotia and Bawag kept euro investors busy.

Colombian airline Avianca has extended the early-bird period of a vital exchange offer after United Airlines and Kingsland Holdings said they needed a bigger take-up from bondholders in order to provide at least $250m of shareholder funding.

Geopolitical tensions, particularly the increasingly hostile relationship between the US and China, have driven some equity investors to take a risk averse position in preparation for a choppy autumn.

US toymaker Hasbro is to take up on $3.6bn new debt to buy media company Entertainment One, acquiring porcine superstar Peppa Pig, among other brands, if rival bidders don’t scupper the deal. Hasbro may choose to pay a make-whole price to Entertainment One’s bondholders, who bought the company's issue less than three months ago, a research company predicts.

To make a real difference, green finance needs to prove it is tough on dirty companies. How can the sector look at the fires ravaging the Amazon region and still take comfort in having embraced a bond issued to finance cattle purchases there?

India’s Bombay Stock Exchange has launched trading in interest rate options linked to the country’s government bonds.

Brazilian state-owned lender Banco do Brasil is offering bondholders a fee to bring the change-of-control clause in two of its old notes in line with the documentation in its newer bond issues.

The UK Debt Management Office has announced that it is planning to reopen its 2054 Gilt through syndication in the week beginning September 9.

Industrias Peñoles announced on Tuesday that it will return to the bond market in September after a seven year absence. One investor called the mandate a “healthy sign” ahead of the September opening of the primary market.

In this round-up, the tit-for-tat trade tariff situation between the US and China escalated over the weekend, and the People’s Bank of China (PBoC) issued detailed rules for benchmarking mortgage borrowers to the recently unveiled loan benchmark rates.

Bond investors say that market sentiment in Latin America has emerged mostly unscathed from brutal sell-off in Argentine assets over the last two weeks and that the tone should be positive going into a busier period in September.