Americas

Covered bond issuers are monitoring the dollar market with recent deals from DNB Boligkreditt and CIBC suggesting a welcome reception for further issuance. However, Canadian banks, perhaps the most likely dollar issuers, could well be enticed to consider their home market following TD’s recent success.

London Stock Exchange Group (LSEG) has acquired roughly 16% of collateral manager AcadiaSoft in an attempt to improve its offering in the non-cleared derivatives margin and processing business.

Factors internal and external to the emerging markets are this week combining to stymie new issuance.

Nasdaq-listed Momo this week bagged $650m from its first convertible bond, shrugging off a volatile market to close the deal multiple times covered.

Two euro borrowers launched benchmarks on Wednesday, sharing the SSA euro market. While both secured successful deals, one found the market tougher going, as investors pushed back.

A group of investors owning Venezuela sovereign bonds and notes issued by state-owned oil company PDVSA want creditors of the two issuers to be treated equally, as analysts point out that the sovereign debt is outperforming that of the oil company.

Bway, the US container maker, is including €475m of euro bonds in the leveraged financing for its $1bn acquisition of rival Industrial Container Services, in a sign of the increasing attractiveness of euro high yield markets.

Chicago Mercantile Exchange Group on Tuesday announced that it would soon list new options on its financially settled Black Sea Wheat and Corn futures.

Chinese internet search giant Baidu is considering the sale of China Depository Receipts (CDRs).

Market participants are “gearing up” to transition from major benchmark interbank offered rates (IBORs), but that only 11% have actually allocated any money to seeing through the initiative, according to a survey conducted by major capital markets trade bodies.

Santander said it has hired two bankers, one from Deutsche Bank and one from Goldman Sachs, into its US CIB unit, bulking up its efforts to sell debt and derivative products to US firms.

Brazilian mining giant Vale has wrapped up a tender offer for its dollar notes due in 2042 after nearly two thirds of bondholders agreed to sell their paper.