Americas

The subdued US private placement (USPP) market could be set to for a rush of deals in September, enlivening what has been a quiet year, writes Robert Cooke.

Numerix, a provider of cross-asset analytics for derivatives valuations and risk management, has signed up Siam Commercial Bank as its first client in Thailand for a credit valuation adjustment (CVA) solution.

Commodities firm Trailstone has signed its first syndicated loan co-ordinated in Europe.

Less than 12 hours before a creditor meeting to approve its drawn-out restructuring, Canadian-Colombian oil company Pacific Exploration & Production said on Tuesday evening that it had received a letter proposing an “alternative transaction”.

trueEX, the interest rate swap trading platform, has begun providing execution of Brazilian real swaps cleared at CME Group.

The International Swaps and Derivatives Association (ISDA) has launched a protocol aimed at helping market participants comply with the variation margin requirements that come into force in March next year.

Far from seeing Tullett Prebon’s voice-hybrid push as a last stand of the dinosaurs against robot supremacy, those firms going all-in on electronic trading would do well to re-examine their own longevity.

Standard Chartered and Société Générale were both marketing dollar-denominated tier two bonds on Tuesday, as they looked to add to the $10.45bn of loss-absorbing debt Europe's banks have already raised in the US this month.

Financiera Independencia (Findep), the Mexican microfinance lender, has closed a tender offer for its 7.5% senior notes due 2019 after an extension to the early bird deadline did little to increase the uptake.

The World Bank began meeting investors this week for a landmark bond denominated in the IMF special drawing rights (SDR), after it gaining approval from the People’s Bank of China. More issuers are lining up to sell SDR bonds, with each trade likely to have unique features.

Jamaica will replace $785m of existing bonds with cheaper, longer dated debt after wrapping up a tender offer for its 2017s and 2019s on Friday.

Mexico and Jamaica carried out triumphant, credit positive liability management exercises this week, as Latin American bankers saw little to suggest the overwhelming demand for yield helping to drive activity in the market will soften in the near term.