Americas

EM bond markets around the world have been forced by difficult conditions to shut down early for summer. The only trade due this week, from South Africa's Eskom, will have to attract investors that are ready to hunker down and wait for September.

India’s HDFC Bank has raised $2.22bn through a qualified institutional placement and a concurrent sale of American Depository Shares (ADS).

The Schuldschein market's heavy reliance on car industry borrowers means the prospects of trade wars affecting the sector are worrying investors and arrangers alike.

An exemption for Canadian covered bonds from bail-in is positive, said Fitch this week despite a general concern about the lack collateral available in some covered bonds, and an overvalued Canadian housing market.

Engineering and construction firm Andrade Gutierrez has amended the terms of its bond exchange offer after discussions with the largest holders of its old notes.

Latin America’s best rated sovereign lost its last double A rating last week as years of fiscal deterioration catch up with Chile.

Brazilian telecoms company Oi will choose to pay an all-cash coupon for the first payment of its newly issued seven year bonds, the restructured company said on Friday.

Web browser Opera has bagged $115m from its Nasdaq IPO after a flood of demand made top-end pricing a certainty, according to a source close to the deal.

Engineering and construction company Andrade Gutierrez, one of the largest contractors in Latin America, is asking bondholders to push out a 2018 bond maturity that it failed to pay on April 30, with analysts expecting a majority to accept.

Brazilian telecoms company Oi is expected to release its new bonds — the product of a restructuring — on Friday. So highly anticipated are the notes that they have been exchanging hands way over par even before they were issued.

High yield investors are hoping that a glut of fallen angels in US corporate credit might help alleviate the drought of issuance they have suffered this year, but a report from S&P Global argues that concerns over the risks in triple-B rated borrowers might be overdone.

US companies stayed away from issuing bonds this week, amid continuing volatility and concerns about second quarter earnings after Facebook offered "bombshell guidance".