Americas

Argentine airport operator Aeropuertos Argentina 2000 saw its new 10 year bond trade up around a point on Tuesday as Latin American corporates extended their stay in a friendly primary market.

Derivatives market participants should be given a relief period on variation margin rules after the slated March 1 deadline, the International Swaps and Derivatives Association has said, adding its voice to a rising clamour across the industry.

The Province of Ontario broke the silence in dollar benchmark issuance this week, mandating for a five year deal on Tuesday. Other borrowers are avoiding dollars this week due to holidays in Asia, but Ontario can rely on its strong following in the Americas to push it through, said bankers.

Louis Dreyfus, the unrated, privately owned food commodities company headquartered in Amsterdam, pushed ahead with a senior unsecured bond issue it had previously tried to bring in November on Tuesday.

Bank of America was looking to walk away with a fresh chunk of total loss-absorbing capacity (TLAC) eligible senior debt on Tuesday, becoming the first issuer in the euro market to link the pricing levels of fixed and floating rate tranches.

Argentine airport operator Aeropuertos Argentina 2000 fetched a new 10 year bond some 30bp inside initial price thoughts on Monday to become the fifth issuer, and fourth corporate, from the country to issue this year.

Credit Suisse has a new head of Europe, Middle East and Africa equity capital markets, as Nick Williams is moving to another job at the bank in New York.

The Central American Bottling Corporation (CBC) will redeem all of its $300m of bonds due 2022 after pricing a new 10 year deal that has performed very strongly in secondary markets.

AES Argentina priced a new seven year bond well inside the expectations of much of the market on Thursday as conditions recovered quickly after a wobble at the end of last week.

Grupo Alfa-owned food company Sigma may finally bring the first Mexican bond deal of 2017 next month. As Donald Trump’s ascendancy to the US presidency engulfs the country in uncertainty, DCM bankers say issuers are calm despite the lack of activity.

Lat Am syndicate bankers said that a $210m five year debut bond issue from Colombian glass and window maker Tecnoglass this week showed the strength of the region’s credit markets — despite the company not raising the maximum slated amount.

Central American development bank Cabei began its funding for 2017 by issuing more than $100m-equivalent in niche currencies, the bank’s head of capital and financial markets told GlobalCapital.