Americas

Two Chinese banks and one Taiwanese lender have banded together to supply a $630m leveraged buyout financing to support Carlyle’s acquisition of VXI Global Solutions.

The Depository Trust & Clearing Corporation has named a new head of its Fixed Income Clearing Corporation business.

Colombia’s second largest lender, Banco de Bogotá, was able to tighten pricing on the tap of its existing tier two bonds by 30bp on October 28 as bankers said the issuer had attempted to generate strong demand with very generous initial price thoughts.

China’s domestic fixed income market is set for another milestone with National Bank of Canada (NBC) poised to sell a Panda bond on Wednesday – becoming the first North American bank to do so.

US glass container manufacturer OI on Thursday added its deal, a loan-to-bond refinancing, to a high yield market scoreboard already loaded with another seven offerings.

The Province of New Brunswick on Friday broke Canadian sub-sovereigns' silence in the Swiss market, printing well above its minimum size target despite choppy conditions.

Eastern Argentine province Entre Ríos looks set to continue the run of Argentine provinces tapping international bond markets after announcing a roadshow beginning October 31.

Venezuelan state oil giant PDVSA finally wrapped up an exchange of bonds due 2017 for longer dated paper last Friday, but analysts said that the effect on the company’s credit quality in the medium term was negligible or even negative.

Choppy market conditions on Wednesday and Thursday did not prevent Trinidad Generation Unlimited (TGU) from pricing its debut dollar bond issue after notching a four times oversubscribed book.

Dollar borrowers filled their boots in the last full week of October with a flurry of benchmark deals while DCM bankers were cheering the prospect of another mega M&A financing following AT&T’s offer for Time Warner.

Total loss absorbing capacity-eligible callable deals issued in euros this week by Morgan Stanley and last week by Goldman Sachs could herald the future for bank senior unsecured paper. But regulatory clarity will be needed before it is possible to see whether European banks can follow suit, writes Bill Thornhill.

Investors showed signs of wilting under the torrent of callable bond structures as BNY Mellon, Goldman Sachs and Wells Fargo continued the rush by US banks to print bonds aimed at cutting the cost of complying with Total Loss Absorbing Capacity (TLAC) rules.