Americas

The province of Córdoba sold a five times oversubscribed 7.5 year bond on Wednesday to suggest that plenty of appetite for Argentine paper remained — even if it is growing ever more picky about credit quality.

A healthy pick-up to Central American peers, and investor optimism that political bickering would not put the country at risk of default, allowed El Salvador to raise $601m of vital 12 year funding on Tuesday, despite the sovereign rapidly nearing triple-C status.

Inversiones Atlántida, the Honduran financial holding company, could look to issue a debut international bond in March after postponing plans in November when Donald Trump’s election as US president shook markets.

Central American sovereign Belize failed to make a $13m coupon payment on its 2038 bonds this week, after saying it hoped to persuade bondholders to agree to a consent solicitation that would provide significant debt relief.

Global investors continued to pour cash into the US high grade dollar market this week but supply remained sluggish and on course for the slowest February since 2011.

US healthcare research firm Quintiles IMS launched a $3.065bn-equivalent term loan ‘B’ refinancing and add-on this week. By Thursday the firm had dropped the add-on however as its €850m eight year notes offering proved popular.

The spate of Reverse Yankee will grow on Friday with Avery Dennison Corporation expected with an eight year euro transaction.

The Province of Quebec is set to follow its neighbour Ontario into green bond issuance, opening books for the inaugural bond on Thursday.

Jeanswear maker Levi Strauss priced on Thursday a new refinancing deal in euros, having been absent from the European high yield bond market for seven years.

US pharma research firm Quintiles IMS Holdings printed on Thursday a new €1.4bn high yield bond, proving that European high yield investors are embracing the train of US issuers printing in euros.

Allen & Overy has hired three partners from Paul Hastings to its leveraged finance practice.

Inversiones Atlántida, the Honduran financial holding company, could look to issue a debut international bond in March after postponing plans in November when Donald Trump’s election as US president shook markets.