Americas

ONE Championship, the pan-Asia mixed martial arts promoter and media company co-founded by a former hedge fund manager, is in early discussions with banks about a planned global listing in the US.

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

Latin American renewable energy company Orazul Energía is looking to raise up to $550m of funding for its Peruvian operations in what would be its first international bond sale.

Central America’s largest electricity distribution company could make its debut in international bond markets next week after mandating three banks to arrange an investor roadshow.

Bank of America on Tuesday joined the other large US banks in announcing strong first quarter results, booking profits for the period of near $4.9bn, some 40% more than in the first quarter of last year.

Argentine province Neuquén began meeting fixed income investors on Monday as it looks to issue a second international bond in two years.

Peer-to-peer lender China Rapid Finance has launched bookbuilding for its US listing, which could raise $115m, according to a termsheet seen by GlobalCapital Asia.

ONE Championship, the pan-Asia mixed martial arts promoter and media company co-founded by a former hedge fund manager, is in early discussions with banks about a planned global listing in the US.

A glimpse of the future has arrived with the publication of a report modelling the credit risk banks face from drought. The effect on loan portfolios could be severe — and the research illustrates the new kinds of risk management banks will have to do as the world’s climate becomes more volatile.

The friendly meeting between US president Donald Trump and his Chinese counterpart Xi Jinping last week has ushered in warmer relations, with Trump stating on April 12 that the US Treasury will not label China a currency manipulator. Meanwhile, the two sides are working on a framework for greater market access to be delivered in just over three months.

No Latin American borrowers tapped international bond markets this week as most of the region takes an extended break for Easter, but Argentina is once again providing most of the excitement.

Bond investors were sanguine on Central American sovereign El Salvador’s international bonds even as they took a battering in secondary markets this week in the wake of a default on domestic debt.