Americas

CPPIB Capital is looking to step across the Atlantic into euros, selecting four banks to roadshow its euro debut. Elsewhere, the European Financial Stability Facility (EFSF) sent out its first request for proposals for the second quarter.

With big, powerful rivals including the syndicated loan market, the European private placement or Euro PP market has its work cut out to establish itself as a genuine alternative for companies looking to raise debt. However, its flexibility and growing institutional investor base mean there are plenty of grounds for optimism. Philip Moore reports.

Those who work in the US private placement market, as it is often referred to, say this is a misnomer. They prefer ‘traditional’ or ‘global’ private placement market and, while the European challenge may be increasing, the numbers suggest they have a point. Richard Metcalf reports.

While the large US insurance companies remain the bedrock of the US private placement investor base, slim pickings elsewhere in the capital markets are pushing other kinds of investors to look at the product. But with demand for paper already far outweighing supply, market participants do not necessarily see this as a boon. Richard Metcalf reports.

The role of the US private placement market in infrastructure project finance has expanded in recent years as investors have become more accommodating, competing with traditional sources of project finance in an effort to place vast amounts of capital amid scarce supply and low rates. Richard Metcalf reports.

Chilean pulp company Empresas CMPC could look to issue its first international bond in two and a half years this week after wrapping up investor meetings on Wednesday.

Generación Mediterránea, a subsidiary of Argentine electricity generator Grupo Albanesi, has approved a $100m bond issue that it may carry out in international markets.

The Basel Committee on Banking Supervision (BCBS) slammed global banks today after it determined that only one had achieved full compliance with a set of principles aimed at improving risk data reporting.

A slight rally in higher beta bonds put greater confidence behind a number of projects in both dollars and euros this week, after cheap funding from the European Central Bank and a softer market tone helped slow FIG issuance to a near standstill.

Tierra del Fuego, the southernmost province in Argentina, is on the road with UBS and Puente ahead of a proposed bond sale.

China Renaissance Group and ICBC International Holdings this week unveiled a partnership to provide financial services across mainland China, Hong Kong and the US.

Banco GNB Sudameris, the bank that took over HSBC’s Colombian, Peruvian and Paraguayan businesses five years ago, is likely to target retail investors for an imminent 10 year non-call four subordainted tier two bond, according to syndicate bankers.