Americas

In this round-up, Chinese president Xi Jinping starts a five-day visit to Europe, the eighth and ninth rounds of trade talks are scheduled and local government bonds will soon be available at bank counters.

AES Gener’s junior subordinated hybrid exercised the brains of both syndicate bankers and investors on Monday as they struggled to find appropriate comps. But a hefty book and impressive aftermarket performance left no doubt over appetite for LatAm paper.

Brazilian airline Gol Linhas Aéreas Inteligentes sold a rare exchangeable bond on Thursday after receiving demand from a combination of convertible arbitrage funds, EM bond managers and the long-only equity community, GlobalCapital understands.

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.

After several weeks of speculation among DCM bankers as to why it had not issued, Brazil’s government finally announced a new 10 year trade on Thursday to keep up the momentum in the Latin American new issue markets.

Barclays is under pressure from activist investor Edward Bramson to slim down its investment bank. But among top European IBs, it made the second highest amount of revenue in Europe, the Middle East and Africa in 2018, according to new research. The results were less promising for Deutsche Bank, however.

Bankers expressed concerns about widening high-grade spreads after the Federal Reserve this week completed its u-turn on monetary policy by signalling it will refrain from raising interest rates for the rest of the year.

TD Securities has hired a senior corporate bond syndicator in New York following the departure of another banker who left to rejoin his old firm, Deutsche Bank.

Deutsche Bank has added two senior bankers to its Americas debt syndicate desk in New York as it looks to build on a strong start to the year in investment grade DCM.

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.