Americas

JP Morgan smashed through $15bn of year-to-date TLAC issuance this week as a trio of banks hit the dollar market, ahead of a brief break for Memorial Day holiday.

Autopistas del Sol, the concessionaire of Costa Rican highway Globalvia Ruta 27, sold $300m of 13.6 year amortising bonds on Wednesday as LatAm new issue markets continue to function despite political turmoil in Brazil.

Sharon Bowen, one of only two sitting commissioners on the US Commodity Futures Trading Commission, has voted to advance budget proposals made by acting chairman Christopher Giancarlo, but also said the regulator was underfunded and should receive contributions from market participants.

Export Development Canada breezed through its first green bond issue of the year on Wednesday, building a book nearly twice subscribed and tightening 2bp from initial price thoughts.

Internet and mobile platform company Sea, formerly known as Garena Interactive Holding, is planning a US IPO, according to a source familiar with the matter.

The Province of Buenos Aires showed the resilience of demand for Argentina as it sold a $950m equivalent peso denominated bond mainly to international buyers the day after the currency hit its all-time weakest level against the US dollar.

Candy manufacturer Arcor is planning to tap its dollar-denominated 2023s for up to a further $150m in a deal that would likely sweeten the liquidity in the existing bonds.

Autopistas del Sol, a Costa Rican toll road operator, could price a 13.6 year amortising bond as soon as Wednesday, according to bond investors.

A pair of agencies launched socially responsible investment deals in euros on Tuesday, while a third picked banks for a dollar trade.

S&P became the first ratings agency to react to the latest corruption scandal in Brazil on Monday, but some large investors already think the market has overreacted to the news.

The Province of Buenos Aires could proceed with its planned peso-denominated bond as soon as Tuesday, according to an investor in Buenos Aires.

Nest, the UK national employment savings trust, has become the latest in “a flurry” of buyers to move into high yield bonds.