Americas

Mexican development bank Nacional Financiera (Nafin) continues to look at funding opportunities in niche currencies after selling its first ever public Japanese yen-denominated bond this week, according to the lender’s funding head.

Investcorp, the Bahraini investment house, wants to more than double its leveraged credit portfolio to $25bn, after buying the global debt business from 3i.

A slowdown in Latin American bond issuance and renewed enthusiasm for EM debt in the wake of last week’s Federal Open Market Committee (FOMC) meetings opened the door for Paraguay to sell a $500m 10 year deal.

Moody’s gave the world’s largest operator of McDonald's franchises a lift as it prepares to return to bond markets with a $300m 10 year deal.

A global equities sell-off and political concerns hit the dollar new issuance market this week as trades gapped wider of new issue and borrowers remained on the sidelines.

European bank issuers of additional tier one (AT1) have been abandoning the euro market in favour of dollars. But some have had to start embracing equity conversion structures to join in because it is one of the few ways to account for AT1s as debt and avoid a mark-to-market swap.

Rosenthal Collins, the US futures broker and clearing company, has promoted Robert Turner to be its new chief operating officer and Patrick Carey to be in control of a new function, strategic implementation.

New deals marketed this week by US borrowers Owens-Illinois and Federal-Mogul pushed reverse Yankee issuance to 25% of the €22bn of euro high yield issuance so far in 2017.

Kingsbridge, the holding company of cable TV service provider Asia Broadcast Satellite (ABS), has launched a $280m refinancing into general syndication.

A clutch of China’s technology stars had been expected to dazzle the market with their IPOs this year, but the evolving regulatory environment means many are ambivalent about whether to list onshore or off. Market watchers say fintech players could be pushed to the US, even as other tech firms consider an A-share IPO. John Loh reports.

Argentina returned to the Swiss market for the first time in nearly 20 years on Thursday to print a Sfr400m ($403m) three and a half year bond.

Landlocked South American sovereign Paraguay cemented its status as one of Latin America’s fastest improving economies with a tightly priced 10 year deal on Wednesday.