Americas

HSBC took home $6bn from a callable bond issuance on Thursday, after Barclays opened the callable market for jumbo Yankee issuers earlier in the week.

The Futures Industry Association on Thursday broadly endorsed the need for mechanisms that help deal with extreme volatility on trading venues, arguing that there shouldn't be a "one-size-fits-all" approach.

GlaxoSmithKline added to the crush of red hot dollar bond supply this week, as borrowers began a spring stampede to lock in funding ahead of a likely rate rise next month.

The last two weeks have been the toughest in recent memory for emerging market bond investors who have seen their assets in local currencies and dollars alike take a hammering amid the collapse in the Argentine peso and Turkish lira.

Rating: Baa2/BBB/BBB (Moody’s, S&P, Fitch)

Mizuho Americas said it had hired five people on its high yield sales and trading desk, as the firm looks to beef up its leveraged finance capabilities, alongside larger plans to build out its US investment bank.

On Wednesday, US car manufacturer Ford’s finance arm followed its recent trend in using the euro corporate market to fund itself in floating rate note format. It kept its tenors short with a pair of FRNs, but found investors had a preference for the shorter option.

A long-awaited civil settlement with the US Department of Justice this week could prove to be a boon for Royal Bank of Scotland, which has had the risk of heavy fines looming over it for some time.

Following another tough day for Argentine bonds, the country’s economy minister Nicolás Dujovne clarified after market close on Wednesday that the government was seeking a stand-by agreement from the IMF.

Empresas CMPC, the Chilean pulp and paper company, is the ideal company to venture into uncertain bond market waters, syndicate bankers said after the company announced roadshow plans.

Market pressure on Argentina in recent weeks drove President Macri to take what initially felt like a radical step by roping in the IMF. But what first seemed like a horrific déjà vu is actually a sign that things are getting better in the most underperforming EM nation.

On Wednesday, US car manufacturer Ford’s finance arm followed its recent trend in using the euro corporate market to fund itself in floating rate note format. The company kept its tenors short with a pair of FRNs, but found investors had a preference the shorter option.