Americas

There are signs of resistance from bondholders struggling to see the value in primary bond deals, but Latin America’s new issue market marched on this week with three corporates issuing on Thursday.

Peru took advantages of renewed enthusiasm for its economy and highly favourable market conditions to sell PEN10.252bn ($3.02bn) of 12 year sol-denominated bonds as part of a liability management exercise on Wednesday and Thursday.

Ecuador surprised some bond investors by doubling the size of its 2022s on Tuesday despite being unable to tighten pricing from initial price thoughts.

US corporate issuance came close to registering a record volume for September as triple-B rated borrowers lapped up strong demand on either side of the US Presidential debate.

The US Commodity Futures Trading Commission has expanded its interest rate swaps trading rules to require a range of additional products to be cleared through major central counterparties.

Preparing for MiFID II regulations will cost market participants over $2bn in 2017 in IT bills, a study by IHS Markit and Expand has found.

Intercontinental Exchange has named a replacement for the president of its ICE Clear US operation, Thomas Hammond, who will leave the post at the end of this year.

Peru continued to chip away at its dollar debt on Wednesday with a nuevo sol-denominated 12 year bond, the new money component of which will be used to finance a cash tender for dollar bonds.

New York-listed aircraft leasing company Aircastle has sent invitations for a $75m unsecured financing through a single mandated lead arranger and bookrunner.

China’s Panda bond market is gaining traction with the National Bank of Canada (NBC) establishing a Rmb5bn ($750m) programme, becoming only the second issuer from the country to seek onshore renminbi.

Panama’s Global Bank has announced a tender offer for its structured covered bond.

The Chicago Board Options Exchange has presented further research that shows indices investing in options strategies have historically been less volatile than other key stock, bond and commodity benchmarks, following on from another study it unveiled last week.