Americas
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US high-grade corporates began to emerge from earnings blackout but few are predicting the usual flood of bond issuance as fears over rising inflation and the impact of tax reform could keep borrowers on the sidelines. -
Two influential derivatives trade bodies have questioned elements of a European Commission proposal that would centralise supervisory powers with pan-European securities watchdog ESMA, arguing that national supervisors have a “strong knowledge of local markets” and that the move seemed “premature”.
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Scotiabank looks set to enter the US private placement market, after it hired an experienced banker from National Australia Bank.
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Chinese property developer Country Garden Holdings was forced to pull a Rmb1.8bn ($281.2m) three year Panda bond this week after investors demanded a better return amid rising volatility, writes Noah Sin.
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Mexican non-bank lender Unifin printed $250m of perpetual non-call seven subordinated notes on Wednesday after bankers were pleasantly surprised by the strong participation from large institutional accounts, despite the small size of the deal.
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Jason Manske, the chief hedging officer and head of global derivatives and liquid markets at insurance giant MetLife, has joined the International Swaps and Derivatives Association's board of directors.
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Options volumes were up 11% in exchanges around the world last year, while futures were down 6.6%, according to new data unveiled by the Futures Industry Association.
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Chinese data centre operator GDS Holdings has opened a follow-on placement of its American Depository Shares (ADS), eyeing around $200m.
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Unifin Financiera, the Mexican non-bank lender, is likely to sell a $200m subordinated perpetual bond during New York business hours on Wednesday after announcing price talk on Tuesday.
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Energy company Genneia has become the first Argentine company to tap international bond markets this year with a tap of its existing bonds that bodes well for a likely debut from its peer SMU Energy later in the week.
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Onshore investors forced red chip issuer Country Garden Holdings to pull a Rmb1.8bn ($281.2m) three year bond on Tuesday. It would have been the real estate company’s first deal in the Panda market since September 2016.
