Americas

Bank of America proved on Thursday that there is still plenty of room for euro issuance, even as the market scrambled to work out the impact of the US Federal Reserve's first rate cut in a decade. The US issuer sold a €1bn senior unsecured bond after attracting orders two and half times that size.

Banks are racing to expand their sponsors coverage teams as they fight to remain relevant to private capital providers at a time of disintermediation in investment banking. By David Rothnie.

Brazilian conglomerate Cosan will repurchase around 60% of its 2024s after wrapping up the early-bird stage of a tender offer.

North Carolina-based health technology company Iqvia managed to shave off a chunk of its interest expenses on Wednesday by refinancing its $800m bond in the euro market. Investors grabbed the opportunity to invest in a high-growth listed company, which are still rarities in Europe, a banker involved in the deal said.

Nomura’s wholesale business in Europe, the Middle East and Africa underperformed other regions in the last quarter, with the results coming out after the bank announced it is to scale back trading operations there. But the wholesale division registered a profit overall — a rare occurrence of late.

Brazilian meatpacker Marfrig on Tuesday sold $500m of bonds that will be used to fund cattle purchases that meet its environmental and sustainable criteria.

Scarcity value for long dated high yield paper and expectations of curve flattening helped El Salvador sell more than $1bn of 30 year paper in a highly oversubscribed deal on Tuesday amid strong bond markets.

UBS and Citi trader Tom Hayes was jailed for 11 years for manipulating Libor. But while the trader argued that he was made a scapegoat for the financial crisis, perhaps the rate he rigged is a bigger victim.

Chinese robotics company CloudMinds has taken its foot off the pedal for its New York Stock Exchange IPO, initially expected around this week, and is instead waiting for less volatile global capital markets, according to sources close to the deal.

Brazilian meatpacker Marfrig is looking to fund cattle purchases that meet its environmental and sustainability criteria through a debt sale that the company is describing as a “sustainable transition” bond.

Chinese media company Wanda Sports Group has raised just $190.4m after pricing its Nasdaq listing below the marketed range, despite having already revised down the initial guidance and size of the IPO.

Compañía General de Combustibles (CGC), the Argentine oil and gas exploration and production company, will receive a rating upgrade from Standard & Poor’s if it is able to refinance a $300m 2021 note with a new bond.