Americas

Nomura has put at risk a number of senior bankers in its Americas investment banking operation and refurbished its management team as part of a $1bn plan to cut costs. Senior names in M&A, leveraged finance, Latin America and risk solutions are leaving.

Bond investors appeared relieved after Brazilian steel producer Companhia Siderúrgica Nacional (CSN) raised $1bn of new bonds to refinance debt maturing in the next year.

The Republic of Panama sold local bonds to international investors for the first time on Wednesday as it looks to deepen its domestic debt markets.

Conglomerate Alicorp sold the second global nuevo sol bond to emerge from Peru in a week on Wednesday, copying the execution pattern that worked well for Telefónica del Perú last week and pricing inside its lower-rated compatriot.

Standard Chartered is paying $1.1bn in penalties to US and UK authorities in relation to breaching rules relating to sanctions and financial crime. This exceeds the $900m provision the bank announced in February for sanctions fines.

A varied menu of at least three Latin American borrowers could try to issue bonds on Wednesday, as the region’s issuance continues to catch up with last year’s numbers.

The US Securities and Exchange Commission should take the opportunity of errant tweeting from Tesla boss Elon Musk to figure out how it transitions to a more modern way of regulating market communication.

USJ Açucar e Alcool, the Brazilian sugar and ethanol company, is giving bondholders an extra two weeks to receive the early bird price in a debt exchange that Fitch says is likely needed to avoid default.

In this round up, US president Donald Trump claims DC trade talks solved some of toughest problems, FX reserves rise again, and Caixin PMI brings confidence in China’s economic recovery.

Brazilian steel producer Companhia Siderúrgica Nacional (CSN) is hitting the road ahead of a proposed new issue, just a month after investors told GlobalCapital that an impressive rally in the company’s debt made it a strong candidate to tap bond markets.

Consorcio Transmantaro, the Peruvian power transmission company, could be the next Latin American corporate to tap dollar markets after mandating for a green bond that Moody’s says is not quite fully green.

No sooner had the dust settled on the first global nuevo sol bond sale from a non-financial corporate in 14 years than a second Peruvian company announced its plans to do the same, leaving DCM bankers curious to discover the depth of the local currency market.