Americas

The board of Transportadora de Gas del Norte (TGN), the Argentine gas provider, has approved a bond shelf of up to $600m as the company weighs up a potential debut international bond, it said in a regulatory filing on Tuesday.

The increasingly fickle and protectionist nature of the Trump administration is a new factor for IPO sellers to consider as they prepare for a busy window after Easter. Issuers may have to compromise, or risk their deals being pulled.

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.

Chinese hotel operator GreenTree Hospitality Group has sliced its $349.2m IPO of American Depositary Shares (ADS) to just over half the original size.

JD Sports, the UK casualwear company, is set to break into the US market by buying Finish Line for around $558m. The acquisition will be financed in the loan market.

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China-based Sunlands Online Education Group has bagged $149.5m from its US IPO after pricing the deal at the bottom of guidance.

Pfizer’s consumer healthcare business has gone from being the belle of the ball to the last one left on the dancefloor on Friday, after GlaxoSmithKline joined Reckitt Benckiser in pulling out of a potential acquisition of the unit.

US insurance giant American International Group was rewarded for novelty value as it provided a mixture of senior and hybrid notes to help finance its $5.56bn acquisition of Validus.

A US presidential memo from Trump against China kicks off what could become a series of tit-for-tat tariff moves.

Latin American bond bankers are presenting unusual structures to potential buyers, even as markets remain weak and more straightforward, well-known credits are managing only modestly successful deal execution.

Meatpacking company Minerva began investor meetings on Wednesday ahead of a planned new perpetual bond issue that will pay for a tender offer of the company’s existing perps, as Brazilian issuers focus on liability management.