Americas

The US Federal Home Loan Banks system has become the latest borrower to print bonds linked to Sofr, the planned replacement benchmark for dollar Libor.

HSBC Canada has mandated joint leads for its first covered bond and held investor meetings on Tuesday. The moves comes after a succession of successful dollar benchmarks from European and Canadian borrowers.

Global equity markets suffered a tough start to the week, which kept the EMEA blocks largely quiet.

Colombo-Canadian oil and gas company Frontera Energy’s attempt to grant itself the power to make larger payments to shareholders is an aggressive move, said bankers as Fitch highlighted it would be a credit negative.

Just over 100 days since Ivan Duque took office as Colombia’s president, the South American country has appointed a new head of public credit and national treasury.

Duke Energy Corp became the latest US utility to issue green bonds last week, when it priced a $1bn dual tranche offering.

Frontera Energy Corporation, the Canada-listed Colombian oil and gas company, is asking bondholders permission to make payments otherwise forbidden by the terms of its outstanding debt.

Online fashion platform Mogu is planning to float on the New York Stock Exchange for up to $200m, according to a filing with the US regulator.

Brazilian mining giant Vale has launched its third public tender offer for outstanding international bonds, seeking to continue to cut its debt by buying back $1bn of notes.

The government of Bermuda could issue a new dollar benchmark this week, as it seeks to finance the buy-back of up to $424m of existing bonds.

TFI Tab Food Investments, the owner of the Burger King chain in Turkey and China, has formally withdrawn its $220m IPO in the US after delaying it in February.

Three Latin American bond issuers made it through new issue markets this week, but bond bankers were hardly confident about the prospects for the rest of the year, as investors remain uneasy about adding risk.