Americas

Four Seasons Education is closing books two days early on its $111m New York Stock Exchange listing, said a banker managing the transaction.

China’s Jianpu Technology has launched bookbuilding for its IPO on the New York Stock Exchange, which could raise $236.3m.

Despite Venezuela offering some further colour on its proposed debt restructuring on Friday, the government’s plan is still unclear as its bond prices plummeted.

Brazilian investment bank BTG Pactual is looking to buy back 30% of old perpetual notes via a tender offer it will finance with cash.

A top US regulator at the Commodity Futures Trading Commission on Thursday slammed the “one-size-fits-all philosophy” of the organisation's prior leadership.

On Thursday, tobacco company Philip Morris sold a $2bn triple-tranche bond deal. On Friday, it was in Europe selling a €1bn dual-tranche transaction, taking advantage of the demand for longer tenors.

The Ministry of Commerce (MofCom) completes the first draft of foreign investment law, regulators give BEA Union Investment Management the go-ahead to launch a wholly foreign owned enterprise (WFOE) in Shenzhen, and Renmin University’s vice president claims the renminbi will be fully convertible within five years.

Venezuelan president Nicolás Maduro’s announcement on Thursday that he would restructure the country’s debt left bondholders in “no man’s land”, after he appointed a politician that no US person is allowed to deal with as head of the restructuring group.

Mexican baked goods company Grupo Bimbo and a Panamanian bank are ready to bring variety to Latin America’s bond market next week after meeting bond investors this week.

Argentine lender Banco Hipotecario and Colombian utility EPM sold local currency deals on the international market this week but market participants said a limited buyer base is restricting momentum in these types of trades.

Inkia Energy, the Latin American power generation and distribution holding company, returned to the bond market on Thursday with a deal that divided opinion on relative value but performed strongly in the grey market.

Argentina this week jumped on momentum driven by the government’s impressive recent election performance to attract €11.5bn of orders for a triple tranche euro denominated bond — including a 30 year note that is rarely seen in the currency from EM borrowers. Oliver West reports.