Americas

Online education platform GSX Techedu has launched the deal roadshow for its New York Stock Exchange IPO, in which it is targeting proceeds of up to $227.7m.

In this round up, the US government is considering blacklisting five other telecom companies, the People’s Bank of China (PBoC) intervened three times in the renminbi FX market and two of the four mega banks are ready to launch their own wealth management subsidiaries

Holding company Ultrapar, one of the five largest conglomerates in Brazil, will meet bond investors after the long weekend in the US as it looks to test Lat Am high yield appetite.

Gran Tierra Energy, the Canada-listed oil and gas company that mostly operates in Colombia, ventured into bond markets for the second time this week to sell $300m of debt at a pick-up to its existing notes.

Guatemala battled difficult market conditions on Thursday to issue its first 30 year bond since 2004 as part of a dual-tranche issue as investors continue to seek long-dated paper.

Latin America bond bankers hope that more Mexican companies will look to sell new debt after Televisa clinched a tight price for its 30 year bond this week to wake up the country’s dormant primary market.

Goldman Sachs led a stampede by US banks to the dollar market this week with its debut bond offering using an alternative to Libor.

Utility issuers led the way in the dollar corporate bond market this week, before the trade dispute between the US and China slammed the brakes on supply ahead of the Memorial Day holiday weekend.

NN Bank entered the market on Thursday to seek €500m of senior funding, while Oberbank and Capital One are the latest names to announce plans to raise funding in the format in euros.

Holding company Ultrapar, one of the five largest conglomerates in Brazil, planned to sell a new bond to finance existing debt on Wednesday into a market showing no consistent sense of direction.

Bank of America is covering more clients than ever in a quest to overhaul its rivals at the summit of the league table rankings, spelling further bad news for European banks, writes David Rothnie.

Brazil’s Suzano tapped international bond investors for the fourth time since September on Tuesday, capitalising on a dearth of recent supply from Latin America and favourable sentiment towards the pulp and paper sector.