Americas

The municipality of Córdoba, the second largest city in Argentina, has mandated Santander to manage a roadshow ahead of a planned international bond debut.

Latin American development bank Corporación Andina de Fomento (CAF) will look to price a new dollar benchmark on Tuesday after beginning to take indications of interest on Monday.

Banco CorpBanca Colombia is holding a roadshow in Taiwan alongside the US for a $200m two year syndicated loan.

ICE Clear Europe, the European clearing arm of Intercontinental Exchange, has been authorised by the Bank of England and by the European Securities and Markets Authority as a central counterparty (CCP).

Industry-wide collaboration on distributed ledger technology governance is needed and policymakers must plan ahead for the impact of such advances on securities markets and post-trade infrastructures, The Depository Trust & Clearing Corporation has said.

YPF, the B3/B rated oil company that was nationalised by the Argentine government just four years ago, took the Swiss franc market into what one syndicate banker called “unchartered territory” with a three year deal on Friday.

Bondholders owning some 71.11% of Brazilian meatpacker Minvera’s 7.75% 2023s agreed to tender their paper by the earlybird deadline of September 14, the issuer said.

Derivatives market participants must embrace new technologies to meet the challenges it faces in seeking greater standardisation and efficiency, the International Swaps and Derivatives Association has said. These include opportunities for use of blockchain, ‘RegTech’, product identifiers and ‘common domain models’.

Deutsche Bank is at real risk of failing to pay coupons on its additional tier one instruments, as a potential $14bn US RMBS settlement threatens to erase the bank's available distributable items (ADIs). Outstanding DB AT1 securities reacted accordingly last Friday, shooting nearly 200bp wider.

A serene summer came to an end this week as uncertainty over a possible US interest rate hike brought volatility back to EM bond markets just as slew of Lat Am borrowers were ready to issue.

Venezuelan state oil giant PDVSA’s proposed debt swap could make its bonds an even more attractive prospect than some investors feel they already are, but economists warned it would do nothing to treat the country’s deep economic crisis.

Mexican oil company Pemex pressed ahead with a new issue on a tough Tuesday in markets, raising $4bn of seven and 31 year bonds that both traded above par despite Lat Am credit in general remaining volatile on Wednesday and Thursday.