Americas

The Argentine province that analysts consider to be the strongest of those left to issue this year will meet bond investors next week ahead of a potential $1bn bond.

Rentenbank joined the rush for dollars on Wednesday as Inter-American Development Bank and British Columbia set pricing on deals announced the previous day.

US banks face tighter but potentially confusing restrictions on booking swaps business overseas, say lawyers, after the Commodity Futures Trading Commission (CFTC) adopted a rule that applies multi-faceted criteria to applying cross-border margining requirements on uncleared swaps.

Derivatives traders this week took the resignation of Brazilian planning minister Romero Juca in their stride, leaving key measures of risk largely unchanged.

Intercontinental Exchange has promoted a long-serving senior official at the firm to chief technology officer.

The City of Buenos Aires lived up to its reputation as the best sub-sovereign credit in Argentina after pricing a new bond just 50bp over where leads believed the sovereign would have sold a new 10 year.

Meatpacker Marfrig announced initial price thoughts low to mid 8% area for a new seven year non-call three bond expected to be priced on Wednesday, with S&P so impressed by the company’s capital market activity that it assigned a positive outlook to the rating.

Monsanto has rejected Bayer’s all-cash bid of a $62bn enterprise value as “incomplete and financially inadequate”, but left the door open to an improved offer.

KommuneKredit grabbed the first chance of the week to print five year dollars while other public sector issuers are set on 10 year deals.

Replenishing the default fund of a failed central counterparty (CCP) and addressing single point of entry at its holding company are some of the biggest challenges regulators face in developing a resolution framework for systemically important CCPs, according to a report by the Clearing House and the International Swaps and Derivatives Association.

EBS BrokerTec, ICAP’s electronic foreign exchange and fixed income business, has added FX spot, forwards and swaps to its EBS Treasury platform as it completes the rebranding of the product from its previous name, MyTreasury.

The City of Buenos Aires is set to issue a new 11 year amortiser on Tuesday after announcing initial price thoughts that will make it the tightest of all the recent sub-sovereigns to have issued in Argentina.