Americas

Shareholders of Hangzhou Lianluo Interactive Information Technology have approved its plan to list Newegg, a consumer electronics retailing website, in the US.

CPPIB Capital hit screens for a new five year dollar benchmark on Friday, following trades in the same currency and maturity by Bank Nederlandse Gemeenten and the African Development Bank on Thursday.

Exchange and tech group Nasdaq has made a $190m all cash offer to buy Cinnober, the Swedish Fintech company.

Hong Kong and Shanghai-listed Huatai Securities is seeking shareholder approval to spin-off AssetMark Financial Holdings through an IPO in the US.

Syndicate bankers say more Latin American issuers could follow Argentine oil and gas company YPF and Brazilian state-owned bank BNDES in buying back existing bonds as low dollar prices make tenders attractive and can provide investors with liquidity.

Owners of Barbados’s international bonds are set to put up resistance to the sovereign’s restructuring plans, complaining that they have had poor communication from the defaulted government.

Some emerging markets (EM) syndicate bankers in New York are daring to dream that there could be new issuance from Latin America next week, but several buy-side players are less than enthusiastic at the prospect of new deals.

With dollar markets requiring hefty concessions for Latin American issuers, the only new issue activity from the region since early July has arrived in the form of Santander Chile’s Swiss franc trade at the beginning of the month.

The €6bn debt funding for AkzoNobel Specialty Chemicals’ buyout has some lawyers, bookrunners and investors in the European leveraged finance markets agonising over what they describe as an exercise in private equity firms flexing their muscles.

New York seemed set to avoid Hurricane Florence but US investors whipped up a storm of their own as they poured cash into a succession of big ticket deals from blue-chip domestic and Yankee names.

Mexico City on Wednesday became the largest city — and first city in Latin America — to sign the green bond pledge, a declaration seeking to encourage governments and companies to use green finance.

As the market waits for Brazilian banks to launch the first covered bonds out of the country, market participants from the country say it provides the lenders with a useful new instrument. But whether they can reach investment grade status in euros or dollars depends on currency risk mitigation, according to a Moody’s official.