Americas

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.

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.