Americas
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Jianpu Technology appears to have made the right call to price its $180m IPO on the New York Stock Exchange below the initial range, after its shares traded up on their debut on Thursday. -
A record year for Latin American bond issuance could end quietly after a sharp softening in market conditions, although certain bond bankers continue to push clients to issue as soon as possible.
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Coupon payments on Venezuela, PDVSA and Electricidad de Caracas (Elecar) trickled in late this week, leaving markets feeling calmer after an unconstructive but scare-free meeting between the government and a small number of bondholders.
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The Commonwealth of the Bahamas returned to bond markets for the first time in nearly four years on Tuesday with a tight deal that performed well in secondary.
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The march of responsible investing took a step into the high yield bond market this week, as both M&G and Candriam launched funds that will use environmental, social and governance factors to influence their investment choices.
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Two companies made their investment grade bow on Thursday as an improvement in sentiment encouraged borrowers to capitalise on decent conditions and wrap up funding in the final weeks of the year.
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World Bank capped off a series of 10 year dollar benchmarks from SSA issuers, on Tuesday, with the tightest spread to mid-swaps and US Treasuries in the tenor for at least two years. But further benchmark issuance in the currency — other than a rumoured Canadian deal — is unlikely, with issuers well-funded and investors winding down for the year.
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China’s once-hot fintech IPOs are losing some of their sheen, as an apparent crackdown by regulators has forced recent US listings to be priced below their initial range or break issue price. But ECM bankers are not giving up yet, as investor education begins on the sixth Chinese fintech IPO in New York this year. John Loh reports.
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Mexican non-bank lender Crédito Real is on the road looking for a perpetual hybrid bond even as other issuers delay deals or roadshow announcements amid weaker market conditions.
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Energy company Talen Energy priced a new high yield bond on Tuesday, but the firm had to sweeten the deal with an extra year of non call protection for investors as sentiment remains shaky on US sub-investment grade debt.
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Intercontinental Exchange, the exchange and clearing house operator, has reshuffled its top management team, with Benjamin Jackson, formerly chief commercial officer, named president.
