Americas

With one quarter left of 2016 to go and global issuance 22% down, the equity capital markets bookrunner race is going into its final straight. Familiar faces are leading the pack, but incumbents in general are having a tough year.

trueEX, the interest rate swap trading platform, claims to be the first swap execution facility to execute dealer to client Brazilian real interest rate swaps.

Forwards and Futures trading will form a big part of a fund that Franklin Templeton Investment has launched, which focuses on long and short term exposure to global currencies in both developed and developing markets.

EM bond market conditions continue to attract riskier issuers, with Suriname set to meet US and European next week after spending Thursday and Friday in the Caribbean.

The vice-president of the New Development Bank, Paulo Nogueira Batista Junior, tells GlobalMarkets how his institution is lending on projects and issuing green bonds in line with the increasing concern with environmental issues

The Chinese Golden Week holidays meant not a lot was going in China, but there was still plenty of renminbi news occurring in the rest of the world. In this round-up, more updates on Shenzhen Connect rules, China-domiciled funds land on Clearstream, and Fred Bergsten says China is not a currency manipulator. Plus, a recap of our coverage this week.

Avolon Holdings, indirectly owned by China’s HNA Group, has tapped Morgan Stanley and UBS to provide $8.5bn of debt for the acquisition of the aircraft leasing business of CIT Group.

US based bond investors said that Argentina’s first euro-denominated bond issue for 15 years came too tight for them, as bankers said this was likely to be exactly what the sovereign had been looking for. However, the level also looked tight for yield-hungry European accounts, with the bonds trading down around a point on Thursday.

Island nation Bermuda is understood to be targeting Tuesday, October 11 to issue its first bond in three years, according to one investor, after beginning a roadshow earlier this week.

Chile-based airline LATAM announced plans to raise $500m of bonds later this month after mandating six banks to arrange a roadshow and tender offer for existing notes.

PepsiCo led a quieter week of supply by opportunistic corporate issuers in the dollar market this week as it looked to issue ahead of an increasingly uncertain backdrop since September’s record monthly issuance volumes.

Kemi Adeosun, the finance minister of Nigeria, has attacked the “hypocrisy” of Western governments in stopping developing countries accessing development bank finance for coal power.