Americas
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Peruvian power generation company Kallpa became the first Peruvian issuer apart from the sovereign to issue international bonds as strong local interest helped it to navigate a turbulent market on Thursday. -
Latin America bond bankers put on brave faces after Petrobras’ return to bond markets soured when its new 10 year traded down as much as five points just two days after pricing. Oliver West reports.
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The City of Buenos Aires is set to sell up to $890m of bonds as soon as Tuesday as it looks to take advantage of what one Buenos Aires-based banker described investors as “drunk” on Argentina risk.
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Computer giant Dell timed its acquisition financing to perfection this week as its racked up $85bn in orders from a yield hungry investor base that flocked to the secured structure that delivered investment grade bonds.
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There was a steady stream of sterling deals in the supranational and agency market this week, amid confidence that volumes will keep up until the UK’s referendum on European Union membership is imminent.
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Long dated dollar issuance could be set for a return in the coming weeks, after minutes of the US Federal Reserve’s rate meeting in April — released on Wednesday night — showed a more hawkish sentiment than the market was expecting.
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The futures-implied probability of a US rate hike in June surged this week after hints by Federal Reserve officials.
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Intercontinental Exchange is readying to offer a new form of interest rate futures contract aimed at supporting term financing deals such as repurchase agreements.
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The US investment banking market is the largest and most lucrative in the world, and the most tightly locked down in the hands of domestic firms. But vaulting up the league tables, of late, has been Mizuho — hoping to break down Japanese bank stereotypes in the process.
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Mortgage lender Banco Hipotecario took advantage of the momentum surrounding Argentine bonds on Wednesday with a tap of its senior unsecured 2020s more than six and a half points above where they were first sold in November.
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Export Development Canada is set to join what one SSA banker described as a “ridiculous” dollar market, where issuers are selling in big size and with little or no new issue premiums.
