Americas

Two Latin American sovereigns priced dollar deals on Wednesday in what some were interpreting as a rush to beat possible volatility surrounding Donald Trump’s inauguration as US president on Friday. But if markets are worried about what’s round the corner, they’re yet to show it.

Donald Trump could end up being China’s best friend following his comments this week that the dollar is too strong. If the US president elect decides to engineer a weaker dollar, it would help solve China’s most imminent issue — capital outflows.

Pattern Energy Group is planning to print its first corporate bond this week with a $350m high yield offering that will primarily finance acquisitions of wind power projects from its developer-sponsor, Pattern Development.

Sovereign issuers may have grabbed the headlines in Lat Am bonds on Wednesday, but the operator of Santiago’s metro system was certainly able to attract enough investor attention as it raised $500m of funding on Wednesday.

On Wednesday, Citi reported a boost in profit during the fourth quarter of 2016, propelled by increased trading activity in light of year-end political uncertainty.

One of the busiest days ever in the public sector dollar market ended with five issuers sitting on deals printed at the top end of their size targets and with pricing tightened from initial thoughts. Another borrower is already out for Thursday business and bankers predict that conditions are so “incredible” that deal flow will stay healthy into next week — no matter what policy statements incoming US president Donald Trump makes at his inauguration on Friday.

The Depository Trust & Clearing Corporation (DTCC) has appointed a head of compliance for its European Global Trade Repository (GTR) business.

Argentine energy company Pampa Energía clinched pricing that was “very competitive” versus peers on its debut bond issue, said EM syndicate bankers, as borrower-friendly conditions showed no sign of fading ahead of Argentina’s crucial sovereign bond issue on Thursday.

Morgan Stanley reported a jump in profits and revenue in the fourth quarter of 2016, as activities in the bank’s trading group propelled it to a strong finish to the year.

Plans for the Chicago Board Options Exchange to link up with Bats Global Markets took a big step forward this week, with both sets of shareholders approving the exchanges’ merger and a motion to issue shares supporting the deal.

Credit Suisse has named two bankers co-heads of global leveraged finance.

Belize is asking bondholders to allow it to delay the amortisation of and reduce the coupon rate on its $526.5m 2038 bond in what the country’s financial secretary said would be the “mildest adjustment” to the notes that could make them “sustainable”.