Americas

Opera, the internet browser, is marketing its $115m Nasdaq IPO at a substantial discount to comparable web browsers in China and Russia.

Brazilian utility Cemig ended a three week hiatus in offshore Latin American bond issuance this week and was swiftly followed by the Dominican Republic as the two high yield borrowers raised a combined $1.8bn.

Chilean utility AES Gener will buy back $200m of old bonds after investors pledged to sell more than the maximum purchase amount that the company had set before the early bird deadline of July 11.

FCoin, a huge new cryptocurrency exchange by volume, is only two months old and was virtually unknown up until it brought the network of the second largest cryptocurrency in the world to a standstill and made a lot of people very angry.

Bank of Montreal made the most of US earnings blackouts and re-opened the dollar market this week with a $2.25bn deal amid improving market conditions.

Carmakers took advantage of a light calendar and an improving backdrop to reopen the dollar bond market after a week-long supply drought.

Equity investors have endured a volatile year with numerous geopolitical shocks leading to falls in markets and sapping confidence. But now they are positioning for the previously unimaginable, a trade war between the world’s two largest economies and all the ramifications that will follow, writes Sam Kerr.

Dutch lender ING has hired a director to focus on Latin American and high yield debt capital markets origination as part of its recently launched global capital markets Americas group.

Financial Conduct Authority chief Andrew Bailey on Thursday set out the options for forward-looking term rates to replace Libor, a family of benchmarks that he described as “vulnerable to misconduct”.

Toronto Dominion Bank became the second Canadian lender in three days to enter the euro senior market, with a five year deal. It could encourage US banks to issue in euros after reporting results over the next week.

Brazilian utility Cemig will test appetite for high yield issuance in Latin America on Thursday after it approached investors about the possibility of tapping of its existing dollar bond.

CNFinance Holdings has filed for a $200m flotation of American Depositary Shares on the New York Stock Exchange.