Americas

The Depository Trust & Clearing Corporation (DTCC) on Tuesday said it had moved to the testing phase of a new credit derivatives “warehouse” that processes credit derivatives trades with distributed ledger technology (DLT).

The state bank of Chile is bookbuilding a return to the Swiss franc bond market.

Leasing company Engenium Capital was holding follow-up calls with investors on Monday as it stays engaged with the market ahead of a proposed dollar debut, but bankers said timing was tricky for any Latin American names — let alone Mexican.

Digital Realty, the US data centre company, has signed a global syndicated loan package totalling $3.3bn across a range of currencies, weeks after the firm ventured into the sterling bond market.

Yorkshire Building Society (YBS) and Coventry Building Society have mandated leads for the first five year Sonia-linked covered bonds, Lloyds is out with the first Reg S dollar covered bond from a UK issuer in years, and DZ Hyp has mandated leads for the first deal under its new brand name. Elsewhere, Bank of Nova Scotia has opened order books for a three year sterling tap.

Coca-Cola European Partners opened the European corporate bond market on Monday with its third visit to the market since the company was created in 2016. The €400m nine year bond was three times subscribed.

Costa Rica’s bond prices are dropping as international bond investors take a pessimistic stance over the likely outcome of a constitutional court verdict on proposed fiscal reforms.

FX and equity markets jump as a possible US-China trade deal is back in sight, Chinese president Xi Jinping promises more developments on free-trade zones and a registration-based stock system, and the Dubai International Financial Centre takes action to expand Chinese institutions’ access to the Middle East Africa and South Asia (MEASA).

Christoper Jordan has left his position as director of US private placements at Barclays in New York.

Mexico this week sent global markets a stark reminder that its politicians were not afraid to follow through on radical policies as the incoming president cancelled the capital city’s new $13bn airport. The move caught fund managers across the world off guard, despite the fact it had been a much-advertised campaign promise, writes Oliver West.

A rally in Brazilian dollar bonds slowed but did not reverse this week after right-wing Jair Bolsonaro eased to victory in last Sunday’s presidential election.

Brazilian meatpacker Minerva will make a second attempt this year to buy back its outstanding perpetual bonds after announcing a tender offer on Thursday.