Americas

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.

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.