Americas

Telefónica Celular del Paraguay (TeleCel), the Paraguayan subsidiary of pan-EM telecoms group Millicom International Cellular, returned to bond markets for the first time in over six years on Thursday.

A bond market keen for duration welcomed pulp and paper producer Klabin’s dual-tranche offering this week, but a stormy atmosphere for Brazilian names put the new issue concession higher than recent deals as investors began to seriously doubt the country’s economic prospects.

The Peruvian subsidiary of Spanish group Telefónica will begin investor meetings on Thursday as it plans what would be the first ever global nuevo sol deal from a non-financial Peruvian corporate.

Fitch has slashed the rating of Mexican textiles company Kaltex by three notches to CC, warning that the issuer could soon look to restructure its $320m senior unsecured notes maturing in April 2022.

Telecoms company Cable & Wireless, which operates mostly in the Caribbean, added $300m to its longest dated bond on Wednesday in a deal that received strong backing from US high yield buyers.

JPM securitization banker leaves — Goldman Brexiter quits for politics — Balax enrols in fintech course

David Malpass, Donald Trump’s nominee to take the helm at the World Bank, has cleared two hurdles in the way of the job after holding a “positive” meeting with bank staff representatives and passing his interview with shareholder countries.

Confectionery group Mars piled up an order book of $28bn for its debut dollar bond this week, underlining the sheer weight of money pouring into high grade credit.

Canadian Imperial Bank of Commerce (CIBC) has become the last big Canadian bank to hit the dollar market with a deal to comply with the country’s new bail-in regime.

As the first quarter of 2019 comes to a close, the International Finance Corporation is taking stock, to inspect its funding needs. It is well-funded, and looking to only print on the private market to meet its targets.

An obscure but growing asset class has received a stamp of approval from one of the most celebrated investor types: sovereign wealth investment has started to flow into litigation finance.

Chinese streaming platform iQiyi, which is backed by internet giant Baidu, tapped the equity-linked market this week with a record-breaking deal — the largest American Depository Shares (ADS) convertible bond — and could help boost issuance in the asset class. Jonathan Breen reports.