Americas

Chinese online auto trading platform Cango is looking to raise up to $300m from an IPO on the New York Stock Exchange.

UBS is expanding its Latin America debt capital markets team with a hire from a rival house.

Frontera Energy, the Lat Am-focused Canadian oil and gas company, saw its new international bond trade up in the secondary market on Thursday as EM buyers found several justifications for why the deal had been priced relatively cheaply.

Chile will meet bond investors next week ahead of a proposed local currency issue that will be available to offshore buyers.

The expected torrent of mergers and acquisitions-related supply arrived this week with two borrowers taking home a combined $31bn after credit markets seesawed in the latest bout of Donald Trump-inspired volatility.

UBS and Royal Bank of Scotland tapped into the resilience of the dollar market this week, as they printed well-received trades amid volatile conditions.

Canadian Imperial bank of Commerce this week issued the first dollar covered bond in 144A format this year. The funding, which was much cheaper than the cost of raising a similar deal in dollar senior format, could well unleash a slew of supply, mostly from Canadian banks but also potentially from European names.

After an absence of more than two years, Royal Bank of Canada this week issued its first covered bond in euros, attracting a comfortably oversubscribed order book for a €1.5bn deal which was priced with a skinny new issue concession.

Clients of bank index platforms are adapting to a new investment climate, increasingly opting for more defensive strategies and specifically positioning for volatility spikes similar to the ones markets experienced in early February.

Fixed income investors should be better prepared for a trade war between the US and China, according to Arvind Rajan, managing director and head of global and macro at PGIM Fixed Income.

Thunder Bridge Acquisition began trading on the Nasdaq this week after sealing a $230m IPO. It is the first special purpose acquisition vehicle (Spac) to focus purely on China’s financial technology sector.

Standard Chartered bank has hired two people to cover macroeconomics in the Americas.