Americas

The Province of Quebec on Tuesday added the third strong Canadian sub-sovereign deal in sterling this year, tightening 2bp from guidance and pricing through its domestic curve with its first trade in the currency in over 20 years. The Province of Manitoba is attempting to copy the success of its peers in sterling, after mandating for a debut deal.

Bond investors in Latin America appear happier to be stretched by tight pricing than hairy credit quality after Brazilian state oil giant Petrobras pulled off an exceptionally tight bond return on Monday.

Verizon Communications will meet Swiss investors on Tuesday afternoon to discuss an inaugural Swiss franc bond.

Litigation finance house Burford Capital is set to become this year’s second issuer on the London Stock Exchange’s Order book for Retail Bonds (Orb).

Corporate bond issuers in Europe made a busy start with multi-tranche deals from energy company E.On and brewer AB InBev, as primary markets shrugged off the biggest ever cyber-attack on businesses around the world at the weekend.

The Depository Trust & Clearing Corporation (DTCC) on Monday committed to expanding its use of cloud technology “across a much greater range of its services and applications” over the next three to five years.

The Province of Quebec will print in sterling for the first time in over 20 years after hiring banks on Monday for a five year deal, joining other Canadian provinces in returning or debuting in the currency in 2017. The trade will come in the same week as the UK sovereign sells the first syndication of its 2017-18 financial year.

Abengoa’s yieldco spinoff, Atlantica Yield, took a step further from its troubled Spanish major shareholder on Monday, having received its first double-B rating from Standard & Poor’s.

The provinces of Buenos Aires and Mendoza are planning to join the list of Argentine issuers opting to sell peso-linked debt after recent deals by YPF and Banco Macro.

A blow-out deal from Argentine energy company Capex reassured Latin American bond bankers that the market had shrugged off a handful of deals that did not run as smoothly as hoped.

Mexico City-based DCM bankers say that the mood among the country’s financial community has drastically improved since the start of the year, as Unifin on Wednesday became just the fourth Mexican credit to issue dollar debt in 2017.

Brazilian electricity company Cemig will return to bond markets towards the end of the month. It had failed to garner sufficient investor interest before its earnings numbers went stale.