Americas

State-owned Trinidadian power plant Trinidad Generation Unlimited (TGU) began meeting investors on Wednesday ahead of a planned bond debut.

Suriname’s claims to be turning around its public finances found traction with bond investors after the sovereign’s debut international bond was priced tighter than many market participants expected on Wednesday.

Wells Fargo took a rare decision to delay the launch of a dollar-denominated senior transaction this week, after S&P revised the bank’s ratings outlook to negative.

A group of banks and service providers, led by New York based start-up Axoni, have completed a test of blockchain technology and smart contracts to manage affirmations and post-trade lifecycle processing for over-the-counter equity swaps, building on similar work done earlier this year for credit derivatives.

ZTO Express and Samsung BioLogics are seeing bumper responses for their jumbo IPOs in the US and South Korea respectively, as bankers expect their bookbuilds to gain even more momentum.

Intercontinental Exchange (ICE) is weighing up whether to appeal a decision by the UK’s Competition and Markets Authority (CMA) that the exchange operator should sell its recent Trayport acquisition to preserve competition in wholesale energy trading.

The coming market rush to comply with margin rules on uncleared swaps will be a big challenge in itself, but regulators need to think hard about the unintended repo risks they are creating by requiring collateral building at breakneck speed.

The Argentine province of Santa Fe will begin a roadshow on Wednesday ahead of a much-anticipated international bond market debut.

Industrial and Commercial Bank of China’s New York branch decided to scrap a 10 year portion of a dual-trancher on Monday, as mismatch on pricing led to investors shunning the tenor in favour of a five year.

The US took a step forward as a renminbi hub in September, when Bank of China New York branch was appointed as the local clearing bank. GlobalRMB met with a representative of the Working Group on US RMB Trading and Clearing to discuss new and future developments.

Bank of America Merrill Lynch posted a post-crisis record for its pre-tax profits in the third quarter this year, supported by eye-popping growth in fixed income, currency and commodities division and in capital markets revenues and profits.

Rising costs for derivatives clearing and difficulties gaining access to dealers present a mounting challenge for small end users in the US and Europe, some of which may have to find other means to hedge risk, a study by the International Swaps and Derivatives Association has found.