Americas

Corporate bond bankers in the US are predicting a further 10% fall in dollar supply in 2019 as more volatility and an expected fall in US M&A activity hits issuance. The predictions come after supply for December hit its lowest level on record.

The depository arm of Canada’s TMX Group is testing a bond link with the Shanghai Clearing House, offering the latest way for foreign investors to access China’s onshore bond market. But while the new link will give Canadian and US investors more freedom to choose onshore dealers, it is unlikely to address some investors’ worries over privacy.

BNP Paribas managing director Ravina Advani has been appointed head of energy, natural resources and renewables in the firm's coverage division.

Paraguay wasp once again the rare consistent provider of good news for Latin America bond markets this week when it earned a credit rating upgrade from Fitch that puts it just one notch off investment grade status with three of the major rating agencies.

A group of bondholders publicly opposing the proposal by Mexico City Airport Trust (Mexcat) to amend documentation in its bond documents now represents over half the issuer’s debt, according to the law firm representing them.

Tencent Music Entertainment Group (TME) has nabbed $1.1bn from its IPO on the New York Stock Exchange, guiding investors toward the bottom of the price range amid choppy markets.

Mexico City airport bondholders are right to turn their noses up at attempts to modify documentation. But though the issuer’s offer will not be the new government’s last squabble with markets, it is still a good sign.

Peruvian cement company Cementos Pacasmayo will buy back more than half its dollar bonds after an oversubscribed tender offer.

In this round-up, Trump was confident China would deliver on promises from G20 dinner, China signed several cooperation agreements in Panama and Argentina, China Financial Futures Exchange (CFFEX) planned to lift bans on trading stock-index futures to boost market activity.

NiQuan Energy Trinidad Limited, the owner of a gas-to-liquids plant in Trinidad & Tobago, began meeting bond investors on Tuesday. But another tough week left Latin America bond bankers down on the chances of new issuance before the end of the year.

Mexico’s new government acted swiftly to show that it would at least engage with financial markets this week. But investors' reaction to a tender offer for Mexico City airport bonds suggested it was the beginning of a troublesome relationship.

The chairman of the Commodity Futures Trading Commission (CFTC) on Thursday seemed to side with the Bank of England in demanding more clarity from European authorities on how they plan to alleviate post-Brexit derivatives disruption.