Americas
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Landlocked South American sovereign Paraguay is likely to return to international bond markets early this month after nominating Bank of America Merrill Lynch and Citi to run its next debt sale. -
BlackRock has received the very first RMB qualified foreign institutional investor (RQFII) quota under the US allocation from the State Administration of Foreign Exchange, in yet another sign that global asset managers are ready to boost their China investments.
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US car rental company Avis Budget Group called in on European investors on Wednesday with a refinancing that extended a busy pipeline of reverse Yankee high yield deals in euros.
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Mexican cement company Cemex said on Tuesday that it would buy back $475m of existing dollar bonds after receiving a strong response to its proposed tender offer.
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CLSA has shuttered its domestic equity research business in the US, resulting in the loss of some 90 jobs in research, sales and trading and corporate access.
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Economists at the Institute of International Finance (IIF) said on Monday that they believed Venezuela was “rapidly approaching breaking point”, despite movements in the short end of the country’s curve suggesting investors are less pessimistic.
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Argentina’s third largest private sector lender Banco Macro is considering selling up to $300m of New York law peso-linked notes, following in the steps of fellow banks Supervielle and Hipotecario.
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The government of Belize has extended the deadline for a consent solicitation designed to ease its debt burden for the fourth time, but has again failed to offer bondholders a better deal.
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Two Yankee banks hit the dollar market so ensure that the pace of issuance continued to outstrip last year.
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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.
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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.
