Americas

Reliance Big Entertainment US has approached the Asian syndicated loan market for a $100m deal, bringing a rarely seen film production name to lenders. While there are some concerns over its cash flows, the borrower is mitigating those fears with two credit enhancements. Shruti Chaturvedi reports.

Foreign bondholders in Usiminas, the Brazilian steel company, may yet make it out unscathed after the company reach a debt restructuring agreement with its bank lenders and local bondholders.

Petrobras made clear its desire to buy back as much of its 8.375% notes due 2018 as possible on Wednesday after extending final deadline of a tender offer for the notes for a second time.

Reliance Big Entertainment US, part of India’s Reliance Anil Dhirubhai Ambani Group (Reliance ADAG), is tapping lenders for a $100m three year trade with one bank at the helm.

The European Commission will begin using fixed income pricing data and liquidity metrics from Markit, the financial information services firm, in its research and policymaking activities.

A confectionary company and the third largest province in Argentina are set to ensure that the country remains the centre of new issue activity in Latin America.

Panelists at Global ABS agreed that growing interest in environmental impact and attractive returns on bonds are helping the asset class catch investor interest from both sides of the pond.

There is no use crying over missed deadlines, or throwing around blame. Europe will not meet the September 1 effective date for imposing margin on uncleared swaps, so US regulators now have a tough call to make on whether to delay as well.

US fashion brands group PVH Corp on Tuesday sold its first bond in the euro high yield market, amid growing concerns that the UK could vote to leave the European Union.

Sysco Corp, the US food service group, completed the financing for its acquisition of UK peer Brakes Group on Tuesday with a €500m bond that was successfully sold in the teeth of market volatility.

The Province of Manitoba sold a 10 year dollar bond on Tuesday, taking advantage of a good window despite the impending Fed rates decision on Wednesday.

Citadel Securities, the market making business, has made a senior FICC sales hire from Barclays to its Chicago office.