Americas

South American retail giant Cencosud tightened its new $1bn 10 year bond by 40bp from initial price thoughts on Wednesday as it completed a liability management exercise.

Argentina’s largest province has announced initial price thoughts of 6% for a 5.5 year €500m no-grow trade in euros.

A junior member of BBVA’s EM debt syndicate team in New York has left the bank to pursue an opportunity away from debt capital markets, GlobalCapital understands.

Digital Realty used its Digital Stout Holding entity to sell a dual tranche sterling bond offering on Tuesday. The £600m raised from the two tranches will be used to rid DuPont Fabros Technology (DFT) of existing debt.

Fears over the direction of interest rates had emerging markets bond bankers scrambling to reassure investors and borrowers alike that the EM bull run is far from over. To back them up, they had three deals from high yield borrowers to offer, although one investor is hoping for a bit more widening first.

Latin American development bank Corporación Andina de Fomento (CAF) raised $1.25bn of three year bonds on Tuesday, with more than half of the orders coming from central banks and official institutions.

Mexican state-owned oil company Pemex continued its mammoth issuance programme with a $5bn tap of outstanding 10 and 30 year bonds that it will use to buy back old notes maturing between 2018 and 2019.

Acting chairman of the Commodity Futures Trading Commission (CFTC) Christopher Giancarlo on Monday appointed Daniel Gorfine to serve as director of LabCFTC and as chief innovation officer of the regulatory authority.

On Tuesday, Bank of Montreal (BMO) issued the largest sterling covered bond from an overseas bank in almost three years at the tightest spread of any sterling covered bond in over two years. The level BMO achieved was far cheaper than would have been possible in euros or dollars.

Santander and Deutsche Bank yanked in the pricing for new senior trades from their US shelves this week, filling the gap created by US banks' blackout periods.

South American development bank Corporación Andina de Fomento (CAF) is set to price a dollar-denominated benchmark bond on Tuesday less than two weeks after losing its only negative outlook.

Peru will begin meeting fixed income investors on Tuesday in preparation for a benchmark-sized Peruvian sol-denominated bond of “intermediate to long maturity”, according to a note sent to investors.