Americas

Resorts World Las Vegas (RWLV), a subsidiary of Malaysia’s Genting Berhad, priced a larger-than-expected $1bn bond on Tuesday, at a level that was more aggressive than market participants had anticipated.

Streaming platform Bilibili pulled off a combined convertible bond and American Depository Share (ADS) placement this week, raking in $737.4m after the fundraising was increased following strong Asian demand. The deal comes just a week after its larger peer iQiyi sold a record ADS convertible. Jonathan Breen reports.

Telecoms company Cable & Wireless returned to bond markets on Tuesday, less than a week after it tapped its senior unsecured 2027 bonds, with a new senior secured bond with a similar maturity.

Global Bank, the fifth largest bank in Panama, is looking to bond markets for the first time for two years, to finance a tender offer for a $550m bond maturing in six months.

Nasdaq-listed Chinese streaming platform Bilibili has opened books for a concurrent convertible bond and placement of American Depository Shares, eyeing combined proceeds of up to $614m.

Mexico timed its return to the European bond market on Monday extremely well, said DCM bankers, with risk-hungry investors allowing the sovereign to notch a €9bn book on the way to a dual-tranche deal.

The dollar market is expected to provide just a handful of deals this week, with a benchmark for the Province of Quebec and a short dated floater for Eurofima up first.

In this round-up, Chinese government and policy bank bonds are included in the Bloomberg Barclays Global Aggregate Index, JP Morgan and Nomura win permission to set up securities JVs and China’s Purchasing Managers’ Index (PMI) rebounds from a three-month low.

A strong aftermarket performance from Millicom’s Paraguayan subsidiary the day after pricing showed that Latin American bond markets were hungry for new supply, despite growing concerns over Brazil.

Colm Kelleher, president of Morgan Stanley, is retiring after three decades at the US bank. A clutch of senior staff will now report to CEO and chair James Gorman directly.

Tim Sloan, CEO and president of Wells Fargo, has announced his retirement, after several years of regulatory and legal pressure on the bank as a result of mis-selling revelations. Sloan was a Wells veteran; the US bank will now not choose one its own staff as his permanent replacement.

In this round-up the Ministry of Finance cut the subsidy for purchasing new energy vehicles by more than half, Ireland-domiciled funds gained a new way to access the Chinese interbank bond market, and China's central bank opens up