Americas

US beauty retailer Coty announced pricing at the wide end of guidance for its $2.45bn-equivalent of new leveraged loans on Thursday, while reaching the end of the roadshow for $2bn-equivalent of new high yield bonds.

Barclays has made a series of hires in its emerging markets credit business.

Turkiye Is Bankasi (Isbank) recently signaled its intention to issue, while HSBC Canada has registered a covered bond corporate entity.

Two Latin American companies raised dollar funding this week while two stayed on the sidelines as bankers said broader market conditions affected appetite in the region.

Debt capital markets bankers are beginning to pitch additional tier one deals to Chile’s banks as the South American country’s general banking law brings regulations in line with Basel III recommendations.

Landlocked South American country Paraguay is looking at the possibility of creating a sovereign wealth fund as part of a possible adjustment of its fiscal responsibility law, said deputy finance minister Humberto Colman Castillo.

High-grade dollar bond supply continued to flow with a flurry of smaller deals this week but bankers see little to cheer about as a disappointing first quarter drew to a close.

It has been a long held belief over the past few years that a return of volatility would be good for equity capital markets. But the speed of its return is causing many investors to give taking risk a wide berth.

A selloff led by worries over tech and tariffs has continued from last week, with some bank strategists beginning to doubt there will be a return to the market conditions seen in January and the second half of 2017.

China’s GreenTree Hospitality Group had to navigate a tough market this week to wrap up its US IPO as volatility spiked and its closest comparable tanked in the secondary market. To pull off its float, the issuer had no choice but to concede on price and size, writes Jonathan Breen.

AIA Group wrapped up a swift deal during New York hours on Tuesday, taking advantage of the ample liquidity in the US market and investors’ appetite for longer tenors. The life insurance company’s $500m deal outperformed most recent trades — both in the primary and secondary markets.

Research firm Capital Economics has chosen a new chief emerging markets economist from within the company, GlobalCapital understands, after Neil Shearing was promoted from that job to become chief economist.