Americas

Petrochemicals company Unigel has set initial price thoughts of 8% for its planned seven year international bond debut. The deal may provide the best indicator yet of how market appetite for Lat Am credit was affected by February’s volatility.

China-based GreenTree Hospitality Group has kicked off bookbuilding for an up to $349.2m IPO on the New York Stock Exchange, according to a filing with the US market regulator.

Royal Bank of Scotland and Bank of Montreal were offering investors sterling debt on Wednesday, as some analysts said that credit spread widening had made bonds in the currency appear cheap.

The heads of Gemini, the digital asset exchange, have put forward a proposal for cryptocurrency spot markets to regulate themselves, and appear to have gained approval from a top derivatives regulator.

Emerging market bond investors are reporting low secondary flows in a market dominated by new issues this week. And the mixed performance of those new deals is expected to weigh on investor appetite for this week’s trades.

The US Federal Reserve has admonished Industrial and Commercial Bank of China for falling foul of anti-money laundering rules, saying the lender failed to properly report suspicious activity at its New York branch.

The Futures Industry Association began its annual conference in Boca Raton, Florida, on Tuesday, with delegates assembling to discuss the challenges and opportunities facing derivatives markets 10 years after the great financial crisis.

UK-based 3i Group has added three people to its office in Amsterdam and one in New York, all in its private equity team, as it plans to boost business in its core markets.

Brazil’s largest private sector lender Banco Itaú sold $750m of additional tier one notes on Monday, just three months after its most recent issuance in the format.

Morgan Stanley issued a €400m bond on Monday, with warrants over Daimler shares, in a trade designed to give equity linked investors some much needed paper in a popular name.

Interest rate swap trading venue TrueEx is planning a marketplace for digital assets by the end of the second quarter, subject to regulatory review, while also building reference rates for the two largest cryptocurrencies.

After five years away from the market, Dutch supermarket operator Ahold Delhaize is set to become a frequent issuer as it sold a dual-tranche deal on Monday, six months after its return to the market. American Honda is not quite a frequent issuer, but its new five year deal on Monday took its total outstanding deals in euros to five.