Americas

Argentine lender Banco Macro will begin meeting fixed income investors today ahead of a planned fixed rate peso-linked bond.

Morgan Stanley was able to complete a huge €3.5bn offering of senior notes on Monday, adding to a recent €22.5bn debt binge from US banks following first quarter results.

Argentina’s third largest private sector bank has pencilled in the pricing of a $300m-equivalent peso-linked note for May 2, according to a regulatory filing made on Friday.

The week after the IFC and Amundi announced plans for the largest dedicated green bond fund in emerging markets, Brazilian bank BNDES will meet investors ahead of a potential green debut.

The first German building society is poised to enter the Pfandbrief business, two Canadian banks have substantially increased the size of their covered bond programmes and prospective downgrades of NordLB’s covered bonds may not necessarily lead to a spread widening said analysts at Commerzbank, UniCredit and Citi this week.

The success of Argentine province Neuquén’s $366m bond issue on Thursday left bankers confident that the Latin America bond market was more than capable of taking on the flurry of rare and debut issuers coming its way next week.

Capex SA, the Argentine electricity company, is planning a $300m bond sale with Standard & Poor's promising an upgrade should the borrower successfully be able refinance its forthcoming maturities.

Argentine province Neuquén priced a new bond that was more than six times subscribed on Thursday as investors jumped into the first Latin American deal following the quiet Easter period.

Strong volumes at the start of the year and an easy comparison quarter have meant the US banks have posted stonking sets of investment banking numbers in their first quarter reporting. Goldman’s trading numbers may have disappointed, but broader business is booming on Wall Street.

Lowe’s Companies was the sole benchmark issuer to tap the dollar market as bankers raised concerns about the strength of the forward supply calendar despite record inflows into US high grade corporate bonds.

Goldman Sachs, for once, is not the darling of the Street, as first quarter numbers from the US major banks show the firm struggling to keep up with its peers, despite a benign backdrop for credit trading, the major strength of its fixed income division.

China Rapid Finance and Bright Scholar Education Holdings are venturing stateside to raise more than $300m from their IPOs.