Americas

Intercontinental Exchange, the exchange and clearing house operator, has reshuffled its top management team, with Benjamin Jackson, formerly chief commercial officer, named president.

Despite the end of the year fast approaching, and Venezuela’s debt saga challenging buy-side patience, investors have at least one more major test with Nigeria marketing the first sub-Saharan African 30 year sovereign bond away from South Africa.

Singapore’s green bond market cracked open a bit further on Tuesday when Canadian life insurer Manulife Financial Corp sold a S$500m ($367.5m) tier two bond, only the second green deal in the currency.

The Commonwealth of the Bahamas returned to bond markets on Tuesday with a 10 year average life deal more than twice the size of its previous largest issuance.

Entre Ríos kept Argentine bond issuance ticking over on Tuesday with a $150m tap of its 8.75% 2025s first issued in February.

The US high yield market suffered another casualty on Monday with a third energy deal pulled in as many days, but other issuers have braved the turmoil to price new deals and there is a healthy line of borrowers keen to follow them.

Investors in green corporate bonds had two very different deals offered to them on Tuesday. Spanish utility Iberdrola sold a green hybrid bond, while Toyota Motor Credit Corp, Toyota’s auto finance subsidiary, offered a long 3.5 year green tranche alongside a seven year non-green tranche.

HSBC will speak to investors from Tuesday about its new sustainable development goal (SDG) bond framework, with a deal expected to follow.

LexinFintech Holdings is the latest Chinese online consumer lender to file for an IPO in the US, picking Nasdaq for a $500m listing.

Those hoping that Monday would bring clarity to the confusion surrounding Venezuela’s debt situation were out of luck as a meeting between the government and some bondholders offered no clues as to the country’s strategy.

Canadian insurance company Manulife Financial Corp kicked off a Singapore dollar-denominated subordinated green bond sale on Tuesday morning local time.

After a long rally in US high yield credit, concerns over tax reform, weak earnings and merger struggles sparked a $2bn outflow from funds tracking the sector last week. Two energy issuers pulled deals during the week, but that did not stop three energy issuers stepping back into the market on Monday.