Americas

The US Commodity Trading Futures Commission's split over whether to accept Japan's uncleared margin rules as equivalent to the US was not an ideal outcome. But the decision, however contentious, is a pragmatic step which will motivate further convergence between regulatory regimes.

trueEX, the interest rate swap trading platform, has added BNP Paribas as a market maker, taking its pool of global derivatives dealers to 21.

US car rental group Hertz on Monday opened a two day roadshow for euros to refinance part of the debt of its European division and fund its operations.

FIG borrowers looking to return to the capital markets may have to pay a little more for funding this week, as market participants tread carefully around the possibility of the US Federal Reserve raising rates in September.

Bank of Nova Scotia returned to the covered bond market for the second time this month and the sixth time this year, opening books for its second dollar benchmark of 2016 and the fifth from a Canadian issuer.

Brazilian telecoms company Oi lost its chief financial officer and investor relations head on Monday as bondholders looked unlikely to accept the issuer’s proposed restructuring terms.

Colombian oil company Pacific Exploration & Production said on Monday that it expects to close a restructuring that would see bondholders and private equity firm Catalyst Capital take control of the firm in the week of October 3.

Icap has promoted a senior official to run its EBS BrokerTec fixed income electronic trading division.

UniCredit announced three senior appointments in its corporate and investment banking (CIB) division on Monday, naming a new head of CIB Americas, a head of CIB Italy network, and a head of financing and advisory Italy.

Canada Pension Plan Investment Board will sell its first ever bond on Tuesday, and HSH Finanzfonds mandated what will be its longest dated bond ever.

Argentina’s southernmost province Tierra del Fuego could look to meet fixed income investors in late October, defying the expectations of several Lat Am bankers and investors, as it considers raising $150m of bonds.

Lat Am new issue activity could hardly have had a better start to September as Minerva Foods raised $1bn of 10 year bonds at a flat to negative new issue concession. Strong flows into EM funds are creating conditions that are hugely attractive for borrowers.