Americas

IHS Markit has added CME Clearing to its MarkitSERV netting synchronisation service for cleared over-the-counter derivatives.

Philips is set complete the divestment of its lighting businesses next year, with US private equity firm Apollo Global Management agreeing to acquire its Lumileds LED unit at a $2bn valuation.

Fitch has partially blamed Donald Trump’s election as US president for hurting Mexico’s economic prospects after it became the third major rating agency to place the sovereign’s credit rating on negative outlook this year.

Two firms with Asian links canned their US floats this week, with InnoLight Technology Corp and Ironshore announcing they have dropped their listing plans.

Chinese e-commerce solutions firm Baozun has raised $73.5m after closing a follow-on placement multiple times covered, despite its stock having a wobbly start to the week.

Mexico’s Pemex put smiles on the faces of bankers and investors with a $5.5bn triple tranche bond issue on Tuesday, the first Latin American bond to be sold in the US since before the US election.

Ecuador, the highest yielding single B sovereign in the world, issued $750m of 10 year bonds on Thursday, becoming the second Latin American credit in a week to take advantage of the recent rally in oil, following Mexican state-owned oil giant Pemex’s $5.5bn bond.

Goldman Sachs printed a $3bn trade on Thursday to push dollar FIG issuance to an all-time high.

Dr Pepper Snapple and Roper Technologies jumped into what is expected to be last full week for US bond market issuance in 2016 with M&A trades that pushed corporate supply close to a new record.

Allianz announced plans to integrate other teams into its global private debt platform on Thursday. Two Allianz investment teams will join the Allianz Global Investors private debt group in January.

Latin American bond bankers believe that Tuesday’s triple tranche bond issue from Pemex is likely to have been the last cross-border deal of the year from the region, even though the bonds provided further encouraging signs with a strong aftermarket performance.

Rallying soybean and corn futures prices have prompted a big improvement in producer sentiment, according to a study.