Americas

Bond investors will have more sub-sovereign supply from Argentina to enjoy next week after a new borrower announced issuance plans.

Export Development Canada tapped the short end of the dollar curve on Tuesday, with bankers away from the deal suggesting it was likely aided by a slight bump in three year swap spreads.

The US Commodity Futures Trading Commission has once again extended no-action relief to the Shanghai Clearing House, stating that it will not take action against it for not registering as a derivatives clearing organisation.

On Tuesday, American fast food chain operator McDonald’s sold the sixth reverse yankee deal in a month, issuing a long six year tranche and a 12 year tranche to raise €1.2bn.

Property developer Soho China has filed for a Rmb10bn ($1.5bn) medium term note programme with the National Association of Financial Market Institutional Investors, in preparation for its debut deal in the Panda bond market.

China Resource Cement Holdings is making a return to Panda bonds more than a year after its debut in the Mainland’s onshore renminbi market.

The banking arm of Brazilian conglomerate Votorantim will kick off investor meetings later this week ahead of a planned Basel III-compliant additional tier one (AT1) deal as Latin America DCM bankers say that more bank capital trades are on the way.

Mexican non-bank lender Crédito Real is set to price its first perpetual hybrid bond on Tuesday after releasing guidance on Monday.

Export Development Canada is out with a three year dollar global that carries no-grow language — a tactic the agency once used frequently but dropped from its other benchmarks this year.

Derivatives markets participants listening in to BBC Radio 4 on Monday morning would have been surprised by a voice that they are more accustomed to hearing in conference halls — that of Christopher Giancarlo, chairman of the Commodity Futures Trading Commission.

The City of Buenos Aires has sold a Ps7.1bn ($403m) domestic peso-denominated floating rate note to a mixture of international and local investors, according to bankers close to the deal.

The Province of British Columbia has again chosen Bank of China and HSBC China for its upcoming return to the Panda bond market.