Americas

Banco Votorantim kicked off a run of issuance from Brazilian banks with a Basel III-compliant additional tier one perpetual non-call five deal on Thursday.

Argentine province Rio Negro on Thursday became the 14th province — and 16th sub-sovereign — from the country to issue in international markets since the sovereign settled with holdout bond investors in April 2016.

Brazilian utility Cemig on Thursday notched up $1bn of seven year money well inside the expectations of many market participants, as bankers said LatAm funding conditions were as strong as ever.

Brazil’s largest airline, Gol, is set to return to bond markets boasting five consecutive quarters of positive cash generation just a year and half after a distressed debt exchange on which some bondholders took a hefty haircut.

As two financial market favourites made important strides in Mexican public life this week, bond investors in Europe gave an extraordinary welcome to high yield cement company Cemex on Tuesday.

The day after the president named him as Mexico’s new central bank chief, Alejandro Díaz de León tells GlobalCapital about the inflation challenge, and adds that the world’s central bankers should be keeping a close eye on the “atypical” business cycle in advanced economies.

Bankers are calling for a quieter December after the dollar market smashed the all-time issuance record with more than a month to spare as borrowers front-loaded to make way for a jumbo offering from Chinese e-commerce giant Alibaba.

Irish headquartered US energy technology company Johnson Controls sold the shortest corporate bond deal of the week on Tuesday, tapping into the pool of investor money looking for a safe option into the end of the year.

Ford Motor Credit Co, the financial services arm of the US motor company, and Deutsche Bahn raised a combined €1.5bn from floating rate notes this week, attracting demand from the traditional fixed rate buyer base with four and seven year maturities.

The day the president named him as Mexico’s new central bank chief, Alejandro Díaz de León tells GlobalCapital about the inflation challenge, and adds that the world’s central bankers should be keeping a close eye on the “atypical” business cycle in advanced economies.

Alibaba Group Holding navigated every roadblock on its way to a $7bn issuance on Wednesday, sealing the second largest corporate bond from Asia after its own $8bn debut three years ago. The unexpected sell-off in tech stocks and US Treasuries posed only a small challenge to the tech giant’s debt market return, writes Addison Gong.

Lead banks have scheduled a December date for the syndication of a €3bn equivalent multicurrency loan package that is supporting PAI and British Columbia Investment Management Corporation’s leveraged buyout of bottling company Refresco.