Americas

Emerging market investors, starved of paper so far this year, have suddenly been flooded with interesting credits, and as Egypt’s blowout trade shows, they were ready for it.

Brazilian oil giant Petrobras has increased the maximum amount of its tender offer for a second time, from $4bn to $6bn, as it continues to make impressive progress chipping away at its roughly $120bn debt mountain.

South American development bank Corporación Andina de Fomento (CAF) sold R$220.2m ($69.46m) of Brazilian real-denominated Uridashi notes on Tuesday in its first deal in the currency.

MidAmerican Energy joined the growing ranks of US utility companies that have issued green bonds with an $850m dual tranche offering on Monday that was four times subscribed.

The chairman of the European Securities and Market Authority, Steven Maijoor, has complained of a mismatch in the treatment of EU central counterparties by other regulatory authorities versus that of overseas CCPs operating in the EU, at a time when a change of US regulatory direction appears imminent.

Public sector borrowers are staying focused on the belly of the dollar curve, with a pair of issuers lined up for Wednesday. Demand at that part of the curve shows no sign of letting up, with two issuers out in fives on Tuesday — one of which was able to increase the size of its issue from its initial target.

Pattern Energy, a US renewables roll-up, priced its debut high yield bond on Friday, after the $350m offering had been marketed to investors last week.

Wells Fargo may have lifted the lid on a flurry of US senior trades in euros this week, opting for a rare but popular floating rate bond to become the first of the nation’s banks to head to Europe after reporting its results.

A growing list of fund managers are seeking access to China's interbank bond market (CIBM), with the likely inclusion of RMB bonds in global indices adding urgency for active and passive investors.

Shanghai Paipaidai Financial Information Service, which operates Chinese peer-to-peer lender Ppdai.com, is eyeing a $200m listing in the US.

Colombia glass and window maker Tecnoglass sold $210m of five year non-call three bonds on Monday in a deal anchored by US high yield investors.

The US Commodity Futures Trading Commission has settled a charge of spoofing in the US Treasury futures market with Citigroup, resulting in an order to pay a $25m civil monetary penalty.