Americas

Swiss franc investors leapt headlong into the Brexit turbulence on Thursday morning, giving a solid reception to the first Swissie deal of the year from a UK corporate borrower.

US President Donald Trump’s nominee for head of the World Bank, David Malpass, will be examined by the bank’s executive directors on Monday, GlobalCapital can reveal. By Phil Thornton.

UP Fintech raised $104m from its Nasdaq IPO this week after pricing its float above the initial marketing range.

Brazilian airline Gol Linhas Aéreas Inteligentes is set to price a rare exchangeable bond on Thursday, two business days ahead of schedule, after demand arrived faster than expected, GlobalCapital understands.

Some investors are beginning to fear that the rally in emerging markets is running out of rope. Threats to Chinese growth could carry over and damage the prospects of emerging markets economies, according to Jupiter Asset Management.

In this round-up China’s new Foreign Investment Law is tipped to spark a wave of capital inflows, the US and China attack each other’s human rights records, Bank of China (BOC) expects onshore bond yields to fall but offshore ones to stabilise

Brazilian government-owned oil company Petrobras will repurchase nearly half of its 2023s after wrapping up the first stage of a tender offer that could total $4.5bn.

This year’s bull market in credit and equities stems from central banks trying to soften the blow of a downturn, rather than from expectations of actual growth. This irony cannot last, for reasons of economics, policy and politics.

Lyft, the US ride sharing app, has hit the gas on its Nasdaq IPO this week, which promises to be the largest technology listing in New York since Alibaba floated in 2014. The deal is a fee bonanza for Lyft’s banks but it has also reignited the debate about dual class share structures. The LSE and UK regulators should maintain corporate governance standards, and resist competitive pressures to follow New York, Hong Kong and Singapore by allowing them.

Lat Am bond bankers and investors may not have found an answer to Monday’s hot topic of the subordination premium on AES Gener’s junior subordinated hybrid, but the issuer left no doubts about the market’s appetite for paper with a highly oversubscribed trade.

The Depository Trust & Clearing Corp has agreed a deal to provide post-trade infrastructure services to enable SEB, the Swedish banking group, to meet its obligations under the Securities Financing Transactions Regulation.

US Solar Fund, the new investment trust focused on US solar power assets, has extended the bookbuilding period for its $250m IPO on the London Stock Exchange, citing political and economic uncertainty caused by the Brexit process in the UK.