Americas

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.

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.

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.

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.

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.

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.

Rating: Aa3/AA-

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.