Americas

Argentine real estate company IRSA will buy back nearly $213.5bn of dollar denominated bonds after wrapping up a tender offer that will be financed by its recent bond deal.

trueEX, the interest rate swap trading platform, has started supported market activity during London business hours as it looks to build its client base in Europe.

Ally Financial has signed an agreement to buy options broker-dealer TradeKing Group for $275m, in a deal that brings $4.5bn of assets and technology.

Canadian Imperial Bank of Commerce has appointed leads to update Australian investors and may issue an Australian dollar-denominated covered bond, the first in over a year.

Chinese metals exchange operator Yintech Investment Holdings is looking to list in the US, having filed a draft prospectus with the Securities and Exchange Commission on Monday.

Brazilian meatpacker Marfrig used cash to buy back $72m of senior notes from October 9 last year to February 18 this year, focussing on its lowest coupon, lowest dollar price bond, the company revealed on Monday.

Short term option implied volatility for the Brazilian real rose to more than 23%, the highest level in some weeks, as the country prepares for the possibility of a presidential impeachment vote by April 17.

Listed futures and options activity growth in March was strongest in equity index and volatility-linked products.

The remarkable conditions in Europe’s corporate bond market since the European Central Bank trained its quantitative easing firehose on the market were clear again today when Federal Express, the US deliveries group, raised €3bn to finance its purchase of Dutch peer TNT Express.

Standard Chartered has appointed a new head of FIG capital markets for Europe and the Americas, according to an internal announcement seen by GlobalCapital.

Car parts distributor LKQ is set to become the first US company this year to issue a high yield bond in euros — and more US names may be on their way, bankers say.

The US Securities and Exchange Commission has a chance to examine its conscience over plans to curb derivatives use. It should do so after the industry condemned a sweeping approach that revealed little comprehension of the many sensible interactions that exist between derivatives and everyday capital markets.