Americas

The US Commodity Futures Trading Commission has fined Bank of America Merrill Lynch $2.5m for failures of supervision and record-keeping, connected with an investigation by CME Group that found evidence of front-running.

Singapore-based internet company Sea has kicked off pre-marketing for a US listing that could raise up to $1bn, according to a banker close to the deal.

Brazilian water and sewage company Aegea Saneamento e Participações is looking to raise $400m via its debut international bond issuance, according to rating agency reports.

Nearly 95% of holders of Latin America oil and gas company GeoPark’s $300m of bonds due 2020 agreed to sell their paper as part of tender offer, the issuer said on Thursday evening.

The FIG dollar market was subdued this week, with self-funders remaining on the sidelines as the Federal Reserve hinted at higher rates and announced the reversal of its quantitative easing plan.

Chinese online retailer of luxury goods Secoo Holding priced its $110.5m listing of American Depository Shares on Thursday, finding favour among investors thanks to an attractive discount.

Royal Bank of Canada bagged Rmb900m ($136.57m) from its inaugural public offshore renminbi bond on Friday, making it just the third issuer to seal a dim sum bond this year.

Brazilian oil giant Petrobras appeared to have timed its return to bond markets to perfection on Monday, but an underwhelming secondary market performance left some investors disappointed.

Two Mexican chemical manufacturers announced roadshows this week, with both Mexichem and Cydsa planning to wrap up meetings on September 26.

Argentine finance minister Luis Caputo said that Argentina would issue two further international bonds in 2017 although it will likely avoid the dollar market, where it has raised over $9.5bn of funding so far this year.

Investors bought into attractive yields from triple-B rated issuers that jumped into the US corporate bond market ahead of the Fed’s well flagged announcement that it would reverse quantitative easing.

Mexican cement company Cemex and Chilean electricity name Colbún both launched tender offers of existing bonds this week, planning to buy back old notes with cash.