Americas
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South American sovereign Ecuador’s latest finance minister says that he does not want the country to return to bond markets, in an abrupt turnaround in policy for one of the region’s most prolific issuers. -
Opera’s planned $115m Nasdaq IPO now has a cryptocurrency angle after Bitmain, a Chinese bitcoin miner, joined the deal as an anchor investor.
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Pinduoduo, one of China’s hottest internet start-ups, has filed for a $1bn IPO in the US, upping the ante in an e-commerce landscape dominated by Alibaba Group.
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The International Swaps and Derivatives Association on Monday said that the uptake of clearing of interest rate derivatives in the US was partially a result of the “powerful incentive to clear” thanks to the benefits of multilateral netting.
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Issuance of US private placement debt has fallen by up to a quarter year on year, according to US PP market participants. The fault lies in the US — as opposed to Australia and Europe — as the cost of debt begins to rise for issuers alongside US rate rises.
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As left-wing candidate Andrés Manuel López Obrador eased to victory in Mexico’s presidential elections last night, investors are wondering just how insistent he is likely to be with some of his more disruptive policy proposals.
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A group of investors owning bonds of Venezuela and state-owned oil company PDVSA want creditors of the two issuers to be treated equally.
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Chile interrupted the quiet in Latin American bond issue markets on Thursday when it proceeded with a dual tranche peso deal, immediately after wrapping up a roadshow.
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AES Gener, the Chilean utility, wants to buy back up to $200m of bonds using cash in hand, it said on Wednesday, as its commitment to reducing leverage looks set to save its investment grade rating.
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Friday marks one year since the launch of the Task Force on Climate-Related Financial Disclosure’s final guidelines — a blueprint for companies to report to investors how they are facing up to climate change.
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Europe’s equity-linked bond market has been anaemic this year, in both performance and volume of issuance. Yet in the US, tax reforms, rising interest rates and share prices near record highs have created a booming market for convertible bonds which shows little sign of abating, writes Aidan Gregory.
