Americas

Bank of America, on Monday, made its third trip to the dollar market since October 1 with an opportunistic dash amid tightening spreads in the run up to Thanksgiving.

The row over PDVSA’s late coupon payments ran into Tuesday with the Venezuelan state oil giant’s CEO claiming that the company had met with “all of its bond payments”.

Derivatives exchanges are making a push on natural gas with three new initiatives unveiled, amid expectations that demand to trade such products across global markets is set to grow.

trueEX, the interest rate swap trading platform, has broadened its push in the asset class with a new facility for trading, processing and novation of non-cleared contracts.

Venezuelan state oil giant PDVSA (Petróleos de Venezuela) failed to make $539m of coupon payments on three bonds last week, activating the 30 day grace period on its 9% 2021s, 6% 2024s and 9.75% 2035s.

GTX, the institutional foreign exchange trading arm of GAIN Capital, has named a chief executive of its swaps execution facility.

Zimmer Biomet, the US orthopaedic reconstructive products producer, has mandated three banks to arrange its debut in the euro bond market, which may be a dual tranche transaction.

The Financial Stability Board made seven changes to its list of global systemically important banks (G-SIBs) on Monday, altering the levels of capital some large financial institutions will have to hold.

Santander Chile, which sent a strong message about its financing capabilities with two consecutive deals immediately after the US election result, will adapt to the Trump era with more international bond issuance, the bank’s CFO told GlobalCapital.

In this round-up, the Hong Kong Stock Exchange saw surges in trading of offshore RMB (CNH) futures, BMO became the first Canadian bank to become market maker for CAD-RMB direct trading, and the country of Djibouti is launching a Silk Road Bank. Plus a recap of GlobalRMB’s top stories this week.

Chinese biopharmaceutical company BeiGene has net $200m from a follow-on public offering of American Depositary Shares (ADSs).

The transition to a new IMF special drawing rights (SDR) basket, inclusive of the renminbi, is just the starting point for efforts by China and the IMF to see the basket take up a greater role as a global liquidity tool.