Americas

One month from the US regulator fining the New York unit of Mega International Commercial Bank, Taiwanese lenders are feeling the pressure and facing an unprecedented level of scrutiny on their existing loan books. But the extra paperwork should be viewed as a minor inconvenience with long-term benefits.

TriOptima, the derivatives post-trade services firm, claims to have performed the first compression of client-cleared trades in its latest SwapClear cycle for Canadian dollar interest rate swaps.

British American Tobacco has said it will use new credit lines to fund the $20bn cash component of its offer to acquire the remaining stake in Reynolds American it does not already own. While BAT said it is committed to an investment grade rating, all three big rating agencies now have it on review.

Morgan Stanley followed Goldman Sachs’s lead by putting a one year call option on a senior bond on Monday, as it became the third US bank to visit euros after publishing third quarter results.

BNP Paribas is hoping to win more business from private equity firms across its product lines, following the appointment of James Seagrave as global head of financial sponsors.

Peruvian lender Banco de Crédito del Perú (BCP) brought in pricing on a new three year senior unsecured note by more than 30bp from initial price thoughts on Friday as investors rushed into a rare Peruvian corporate new issue.

ANZ has made some 30 people redundant across its institutional banking divisions in New York, London and Asia.

In this round-up, The BRICS bank announces its lending target for the next year, two US banks compete for RMB clearing role in New York, and China Construction Bank Tokyo gets admitted to the onshore foreign exchange market. Plus, a recap of our coverage this week.

Home to the world’s largest capital market, the US has what it takes to redraw the global heat map of renminbi internationalisation (RMBi) now that it has been awarded a clearing bank and the world’s second largest RMB investment quota. Yet this potential could be squandered by the upcoming presidential elections unless market forces prevail.

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.

Argentine oil company Compañía General de Combustibles and lender Banco Macro joined Trinidadian utility name Trinidad Generation Unlimited (TGU) in the Latin America and Caribbean bond pipeline this week as debut issuers looked to take advantage of strong funding conditions.

Electric utility company Enersis Americas received a raucous reception from investors this week as it sold just the third Chilean corporate bond in dollar markets of 2016.