Americas

Coca Cola’s Chile-based bottling business wrapped up meetings with local investors on Friday as it planned to replace international debt with domestic bonds.

Chicago Mercantile Exchange (CME) Group on Monday released clearing for OTC swaps based on the secured overnight financing rate (Sofr), the preferred benchmark to replace dollar Libor.

Thirteen companies that produce 30% of the world’s oil and gas have committed to reducing methane waste by a fifth, and will try to cut it by a third. The decision comes a few days after ExxonMobil, Chevron and Occidental joined an industry group on climate change. But analysts warn that there are many caveats to this good news.

Yields on Argentina’s dollar-denominated debt hit their tightest levels since early August on Thursday after the IMF increased the size of its financing package from $50bn to $57.1bn.

The Mexican arm of Spanish lender Santander wrapped up a buyback of subordinated tier two debt on Thursday as DCM bankers said they expected cross-border issuance from the country to remain muted.

European banks took advantage of US bank earnings blackout to print trades amid robust demand from investors this week.

US healthcare company Abbott Laboratories debuted in the European corporate bond market on Monday, selling a €3.42bn triple-tranche deal. The proceeds of the jumbo deal were to repay the issuer’s outstanding deals in dollars.

CPPIB Capital will embark on a four city roadshow in October for its first green bond in euros, following its debut green deal in Canadian dollars earlier this year.

Corporate dollar bond issuance ended a bumper month with a whimper as borrowers fought shy either side of the Fed’s September meeting.

A weak term that was built into the bonds backing Blackstone’s leveraged buyout of Refinitiv last week has also been included in a $1.625bn high yield bond being marketed this week for KKR’s buyout of Envision Healthcare.

Karel Lannoo, the chief executive of the Centre for European Policy Studies, indicated that he was optimistic about the prospects of an equivalency agreement on the oversight of clearing houses between the United Kingdom and EU 27 after Brexit.

A stream of low-rated US borrowers in euros could continue to flow this year, said market participants, consolidating these reverse Yankees as the second largest sector for euro high yield bonds.