Americas

Japan Bank for International Cooperation took advantage of the lack of competing supply and good demand in dollars to suck $3bn out from the primary market on Wednesday. Meanwhile, the Province of Alberta has mandated banks for its third benchmark of the year.

Emerging market issuance is picking up steam once more, despite the weakening across the board in secondary levels.

Global equity market volatility has cast a long shadow over the end of 2018, making equity capital markets issuance more difficult.

As investors push on with fighting the Banco Popular resolution decision, Pimco has succeeded in convincing a New York District Court to extract information from one of Santander’s US arms — but failed to convince to the court to force any transparency from the Spanish bank itself.

Emerging market bond investors are pessimistic about the chances of more Latin American deals appearing this week as market conditions grow more difficult.

Chinese automotive marketplace TuanChe is planning to float on the Nasdaq for up to $150m, filing a draft prospectus with the US regulator on Tuesday.

Chilean savings and loans co-operative Coopeuch has diversified further its sources of funding by becoming the first triple-B rated borrower from Chile to issue in Asian bond markets.

Netflix has returned to the high yield market once again this week with a $2bn offering to fund its ever-increasing spend on its original films and TV shows. But instead of issuing high coupon debt, the company would have done better to look at a convert.

BlackRock has launched a suite of new investment products designed to allow investors to build a portfolio of ESG investments with six new exchange-traded funds.

Venezuelan state-owned oil giant PDVSA is likely to make a principal payment on its amortising 2020s due later this week as all evidence suggests the company is desperate to keep hold of the US refinery that serves as collateral for the bond, according to Torino Capital.

South American development bank Corporación Andina de Fomento (CAF) could turn to the public bond markets to begin its pre-funding for 2019, having issued its largest ever private placement last week to bring its 2018 financing programme close to completion.

Secondary market performance on the slew of Latin American new issues priced on Thursday was mostly underwhelming as Chilean power company Empresa Eléctrica Cochrane confirmed it was postponing a proposed bond issuance.