Americas

Mexican government-owned development bank Nacional Financiera (Nafin) will announce a green bond in Mexican pesos at the end of the month, which will aim to raise up to Mp2bn ($109m) to finance renewable energy projects.

A last minute bid by O’Hara Administration to interrupt Colombian oil company Pacific Exploration & Production’s restructuring with Catalyst Capital offers sweeter terms for creditors but may struggle to find support among bondholders.

Bondholders are confident that a late attempt to derail Colombian-Canadian oil company Pacific Exploration & Production’s planned restructuring with Catalyst Capital will not succeed, after creditors this week overwhelmingly approved the proposed reorganisation.

Bankers and investors see no signs of cooling in Latin American bond markets, as hefty inflows continue to leave technicals firmly in the favour of issuers.

Demand for subordinated debt in dollars has been unrelenting this summer, and has shown few signs of fading. As Europe’s banks look ahead to a busy September in the euro market, there is more than enough motivation for issuers to give dollars one last hurrah, writes Tyler Davies.

The International Swaps and Derivatives Association and PricewaterhouseCoopers were among those wading in with suggestions this week as regulators sought consultation on how best to install a framework to resolve failing central counterparties (CCPs).

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

A handful of small names tapped the US primary corporate dollar market this week as the summer holiday period finally slowed August’s frenetic pace of issuance.

Export Development Canada has shown that the lower bound for dollar demand falls below the three year part of the curve, as it drew a well oversubscribed book on Thursday for a no-grow $500m August 2018 Reg S/144a deal.

Bondholders appeared confident that a late attempt to derail Colombian-Canadian oil company Pacific Exploration & Production’s planned restructuring with Catalyst Capital would not succeed after creditors overwhelmingly approved the proposed reorganisation.

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.