Americas

Intercontinental Exchange has appointed a founding member of the Bank of England’s Monetary Policy Committee as a director of ICE Benchmark Administration.

Financiera Independencia (Findep), the Mexican microfinance lender, has given bondholders an extra two weeks to earn the early bird fee on its tender offer despite receiving a strong initial response.

An auction to settle senior credit default swaps referencing the Commonwealth of Puerto Rico will take place on August 17, the International Swaps and Derivatives Association’s Determinations Committee has agreed, following the US territory’s failure to pay credit event.

The costs incurred to centrally clear derivatives trades could be greater than transacting them bilaterally, US government researchers have argued, in findings that would deal a blow to regulators’ attempts to curb systemic risk in the global market.

IHS Markit has launched indices that track US dollar, sterling and euro investment grade infrastructure corporate bonds, as well as US dollar high yield infrastructure names.

Wells Fargo paid its third visit in 12 months to the 10 year part of its euro senior curve this week, attracting strong demand for a deal deemed fairly priced.

Ecuador gave as good a show as possible that technicals are outweighing fundamentals in EM bond markets with a new $1bn bond due 2022 just a week after announcing the worst fall in GDP since the introduction of the US dollar as the currency.

Brazilian firm Banco Itaú’s head of Latin American debt capital markets has left the bank, according to two sources.

Fosun International-backed insurer Ironshore is looking to raise some $100m via a US listing in a trade to feature only secondary shares, according to a filing with the US Securities and Exchange Commission.

Empresa Nacional de Petróleo (Enap), the Chilean state-owned oil company, will begin meeting investors on Monday ahead of a planned first dollar bond in nearly two years.

Brazil underlined its re-entry to EM investors’ good books on Thursday with a $1.5bn long 30 year issue that bankers saw as taking advantage of the sovereign’s particularly flat curve.

The province of Chubut’s debut dollar bond, sold on Tuesday, traded well on the break as bankers said demand for Argentina risk was unsated with at least two more provinces lining up issues.