Americas

The Singapore dollar bond market’s recent resurgence of private bank demand has prompted a slew of subordinated debt issuance with Manulife Financial Corp launching a rare insurance tier two and Mapletree Logistics Trust opting for a perp non call five and a half on Monday.

Deutsche Bank returned to the dollar market with its biggest-ever deal in the currency as it exploited favourable funding conditions.

Brazilian bonds ended roughly flat on Thursday after a majority of senators voted for an impeachment trial of president Dilma Rousseff as many investors said the move was already priced in, but there was enthusiasm among bankers about the possibility of a renaissance in issuance from the country.

Bankers said that Argentina’s grand capital markets plan was functioning perfectly after Mendoza became the second province to tap international capital markets since the sovereign raised $16.5bn in April.

Peruvian power generation company Kallpa Generación could become the latest Latin American company to sell debt as corporate issuance in the region goes through a relative revival.

Lat Am DCM bankers had held hopes that FDN itself would tap international bond markets this year, but with the proceeds from the sale of state energy company Isagen set to be used to provide the development bank with nearly $1bn of regulatory capital, these plans have been postponed.

The CEO of the Colombian development bank in charge of leading financing for the country’s flagship 4G infrastructure programme told GlobalCapital he was upbeat about progress as he revealed a second international bond related to the programme was in the works.

The geographical spread of US private placement issuance has been shaken up in 2016, according to two USPP bankers based in London.

Corporate issuers led a dollar stampede to complete one of the busiest weeks of the year for US high grade issuance, with more to come as Dell prepares to announce a $16bn M&A financing as early as Monday.

ENSO Financial Analytics, an ICAP Group company that analyses data for hedge funds and prime brokers, has added a platform that is targeted at new managers.

US biopharmaceutical firm Johnson & Johnson on Wednesday issued a four tranche bond, including 19 year notes, amid much competition in a market that absorbed 17 deals this week.

The recent stabilisation of financial markets, following February's turmoil, has been good for some investors but not a positive for many trading in the options market.