Americas
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Brazilian meatpacker JBS will look to continue on the road to recovery with a proposed benchmark-sized dollar deal next week, having received a ratings lift from S&P Global Ratings on Thursday. -
The advance of global warming, highlighted by the Intergovernmental Panel on Climate Change’s report this week, not only demands that the private sector accelerate efforts to cut carbon emissions. Companies must also adapt to the changing climate – and this will involve interacting in new ways, experts say.
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Irish boutique investment bank Rubicon Infrastructure Advisors has hired two bankers with over 40 years of experience to expand its business into the UK.
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Thursday’s activity in Latin America bonds showed that issuer expectations, as much as investor appetite, could define how the year ends, with one borrower standing down and another pushing through volatility.
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Borrowers from Latin America are flocking to meet bond investors despite market conditions softening over the past week.
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Emerging market bond investors were as quick to highlight medium-term challenges in Brazil as they were to express relief at the outcome of the first round of Sunday’s presidential election, though DCM bankers highlighted improved prospects for primary markets.
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A global equity sell-off mid-week caused some jitters among bankers covering a live Kommunalbanken dollar deal on Wednesday, but the nervousness proved unfounded as the trade came through to acclaim. The deal was typical in a week where SSAs priced tight and with big books despite choppy wider markets.
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A sharp sell-off in US equities on Wednesday led to global panic on Thursday as other indices followed suit. Asian and European markets showed some sign of life on Friday, although were still a long way down, but the ramifications of a change in risk sentiment could have lasting effects across capital markets, write Sam Kerr, Ross Lancaster, Costas Mourselas, Craig McGlashan and Aidan Gregory.
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Japan’s Sumitomo Mitsui was one of two benchmark issuers in dollars in a week cut short by holidays, as markets were battered by volatility ahead of the start of US bank earnings season.
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Conagra Brands became the biggest high-grade casualty of market volatility when it pulled a multi-billion M&A financing on Thursday.
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