Americas

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.

Klabin, the Brazilian pulp and paper company, returned to bond markets on Wednesday, taking advantage of a flattening yield curve to issue its first long bond, despite a bad day for Brazilian assets.

Telefónica Celular del Paraguay (TeleCel), the Paraguayan subsidiary of pan-EM telecoms group Millicom International Celluar, held investor calls on Wednesday as it prepared to tap bond markets for the first time in over six years.

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.

Clemente del Valle, the CEO of Colombian development bank Financiera de Desarrollo Nacional (FDN), will leave his post on April 12 after six years at the lender.

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.

Chinese streaming platform iQiyi bagged $1.05bn on Tuesday after tapping the equity-linked bond market for a second time, pricing the deal at the issuer-friendly end of guidance.