Americas
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The riskiest end of the US high yield market is heating up, after restaurant chain Arby’s priced a triple-C rated bond on Thursday at levels some bankers said would draw in other low-rated borrowers. -
The US Securities and Exchange Commission on Thursday slapped down the possibility of new cryptocurrency exchange traded funds until “significant outstanding questions” were answered with regards to investor protections.
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Crédito Real, a Mexican consumer finance company, is set to debut in the Swiss franc bond market in the coming weeks.
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China’s FX watchdog tells corporates to prepare for more volatility in the RMB exchange rate, the chief of China Banking Regulatory Commission (CBRC) criticises illegal activities in the banking sector, and a domestic Chinese credit rating agency moves US sovereign rating as a result of the recent tax cut.
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South Korean firm SK Biopharmaceuticals Co has sent a request for proposals to foreign banks and securities firms as it looks for candidates to lead its IPO, according to a source familiar with the matter.
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The Brazilian sovereign continued a busy period for the country’s issuers with a tap of its existing 30 year bonds on Thursday as bankers said that borrowers from the country were rushing to issue ahead of elections later this year.
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Aircraft leasing company AerCap was the only benchmark-sized corporate issuer in the dollar market as earnings blackouts enveloped the investment grade market in the US.
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Bondholders appear to have brushed off any concerns about the Ecuadorean government’s intention to audit existing debt as the sovereign clinched its largest ever bond issue on Thursday at the tightest yield in its history.
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Brazilian waterway logistics provider Hidrovias do Brasil drew a raucous reception for an international bond debut on Wednesday as the Brazilian company was able to price just inside where Rumo — its closest comparable — issued last week, though just wide of where Rumo was trading.
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Government-owned water utility AySA (Agua y Saneamientos Argentinos) joined energy companies Genneia and MSU Energy in the pipeline on Thursday as this year’s corporate supply from Argentina looks set to start next week.
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Meatpacker Marfrig and airline Gol both completed tender offers for existing bonds this week as Brazilian issuers up the pace of capital market activity at the start of an election year.
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