Americas

Edgar Madinaveitia, a managing director in Latin American debt capital markets at Credit Suisse, has left the bank, according to sources away from the bank.

Peruvian cement company Cementos Pacasmayo is trying to replace half its dollar bonds with a local currency bank loan.

The US cities of Atlanta and Baltimore are preparing to issue innovative impact bonds to finance construction of new green infrastructure, such as parks, to soak up floodwater. The deals will pay investors extra if the infrastructure performs better than expected.

A Russia euro-denominated bond has taken investors by surprise this week, as emerging markets issuers seem to be taking their last gasps in the bond market this year.

Ecopetrol, the Colombian state oil company, said on Wednesday that it would redeem a $1.5bn bond maturing in 2019 with cash and confirmed that next year’s $3.5bn-$4bn investment programme would be self-financed. Colombia continues to provide slim pickings for bond markets.

Bondholders of Brazilian mining group Vale have taken the chance to decrease their exposure to the rapidly deleveraging company with relish, as investors holding over $3.8bn of paper attempted to participate in a tender offer capped at $1bn.

US medical technology company Stryker had to wait longer than it planned for its debut in the European corporate bond market, but when the chance to launch the deal came on Tuesday, it achieved the hat-trick it was aiming for with an extra tranche added for good measure.

Some equity investors are hoping for a surprise gift before year-end if Donald Trump strikes a deal with Chinese president Xi Jinping at the G-20 summit in Buenos Aires to end trade hostility between the two nations, but they're clutching at straws.

Odebrecht Engenharia & Construçäo finally admitted defeat in its attempt to avoid default on Monday, as it acknowledged it would not be making a $11.5m coupon payment due on its $519m of 4.375% bonds due 2025, paving the way for a restructuring.

Bonds issued by central American sovereign Costa Rica rallied as much as four points on Monday after the country's constitutional court gave investors a positive surprise, approving fiscal reform that should improve market confidence in the borrower.

Colombo-Canadian oil company Frontera Energy managed to persuade 91.16% of its creditors to approve an amendment in its bond indenture that will allow it to make larger payments to shareholders.

African Development Bank and Nederlandse Waterschapsbank hit screens on Monday for SRI bonds. Meanwhile, CPPIB Capital will aim to issue its first green bond in euros early next year, following the conclusion of a pan-European roadshow last month.