Americas

UBS has continued to shake up its global equity capital markets leadership team with Gareth McCartney taking the role of head of EMEA cash ECM and global head of syndicate.

Caribbean island nation Barbados said on Wednesday that views were “converging” over the possible size of its fiscal consolidation, setting the stage for negotiations with bondholders to begin.

Bankers marketing the latest crop of IPOs from China’s technology sector got their game face on this week amid escalating fears of a trade war with the US.

The San Francisco Public Utilities Commission (SFPUC) is looking for international buyers of its green bonds for the first time as it prepares a roughly $402m new issue.

French lender BNP Paribas has hired from a rival house to add to its Latin American debt capital markets team.

Mexico filed a $10bn debt shelf with the US Securities and Exchange Commission on Tuesday, leaving bankers to ponder when Mexican issuance could return.

Jonathan Bock, who previously held the role of managing director and senior equity analyst at Wells Fargo, will become a managing director on Barings’ global private finance platform.

Equity investor sentiment remains fragile as buyers become more bearish on global markets because of heightened economic tensions between the US and China. Some investors see this as the most potent risk to equity markets since the eurozone debt crisis.

The Alternative Reference Rates Committee, a US body committed to transitioning markets away from interbank offered rates, this week published a letter it had sent to financial regulators and supervisors, asking for clarity on how derivatives contracts referencing the benchmarks would be impacted by amendments crafted to deal with their discontinuation.

Standard & Poor’s has upgraded Central American development bank Cabei to A+ and left it on positive outlook, as the lender edges closer to its much-vaunted double A credit rating — a level at which it may return to the dollar benchmark market.

Citigroup was marketing a series of callable senior bonds in euros on Tuesday, leading the way for US bank debt sales in the currency after second quarter reporting began on Friday.

Chinese start-up Pinduoduo, a challenger to e-commerce giant Alibaba Group, has launched bookbuilding for an up to $1.63bn IPO of American Depository Shares.