Americas

Brazilian low-cost airline Gol Linhas Aereas Inteligentes is considering becoming the second Latin American company to issue EETCs (enhanced equipment trust certificates), a type of secured bond that has become fashionable among airline borrowers.

Coty, one of the world’s largest beauty companies and owner of brands including Calvin Klein and Marc Jacobs, is arranging a $1bn term loan 'B'.

The dollar market has burst into life after post-Fed with three European issuers tapping the currency in two days as the euro market drifts without direction.

Latin America bankers observing Colombia’s latest bond issue had no complaints about execution but said that the deal was evidence of the higher concessions that the region’s issuers must pay amid EM and commodity-related volatility.

Brazilian telco giant Oi’s bonds dropped up to 14 points before recovering much of the lost ground as the company hired Rothschild to advise it on its debt profile but denied a restructuring was on the cards.

Mexican development bank Banco Nacional de Comercio Exterior (Bancomext) will meet bond investors between Wednesday and Friday as Latin America’s new issue pipeline, deserted for so much of this year, continues to grow.

Mexico-headquartered home appliance company Controladora Mabe received a positive outlook from Standard & Poor’s on Friday afternoon, leaving the issuer close to investment-grade status just as it meets bond investors.

Trading for the Chicago Board Options Exchange's equity volatility futures expanded rapidly in recent weeks as investors girded for a possible rate hike from the Federal Reserve.

The People’s Bank of China (PBoC) said on Friday that it has appointed the local branch of Industrial and Commercial Bank of China as the renminbi clearing bank for Argentina. The country becomes the second official RMB hub in Latin America, following the footsteps of Chile.

Troubled Brazilian shopping centre owner General Shopping Brasil has launched a heavily discounted tender of its 10% senior perpetual notes in an effort to reduce its dollar debt, although Fitch says that a debt restructuring is “likely to occur in the near future”.

European FIG issuance is expected to resume next week after the Federal Open Market Committee decided against raising interest rates on Thursday. Borrowers had approached the announcement with caution, but steady rates should allow normal trading to resume.

DCM bankers covering Brazil are hopeful that liability management exercises from financial institutions may provide them with something to do in the coming weeks as the new issue market suffers depressed volumes.