Bank of America

A rapid decline in Argentina’s dollar reserves pushed the sovereign into C territory with Moody’s on Monday but the downgrade is at odds with investor sentiment in the country, according to some analysts.

Indonesia’s CT Corp has wrapped up syndication of its $1.275bn fundraising, netting commitments worth $555m from a group of 19 banks.

The International Finance Corporation is reopening its London-listed January 2017 dim sum bond for an additional Rmb1bn ($163m), doubling the total size of the issue. The deal comes just two weeks after the IFC priced the original bond.

China Zhongwang Holdings opened up a $500m three year term loan to the market on Friday, March 14, via six mandated lead arrangers and bookrunners. But for lenders eyeing the deal, the top level is still up for grabs.

Bank of America Merrill Lynch has appointed a new MD in FIG DCM, shortly after the departures of Julia Hoggett and Daniel Bell, head of financials flow financing and new products respectively.

LatAm syndicate bankers say they believe this week’s three deals from financial issuers are a sign of more supply to come from the sector as Brazil’s Banco Daycoval received such strong demand that it printed $500m on Wednesday having originally intended to sell a bond of less than benchmark size.

Gulf Marine Services is set to raise £66.9m through its initial public offering, having priced its shares at 165p.

Santander and BNP Paribas printed their first dollar trades of 2014 as demand for investment grade paper continued its strong run.

Verizon Communications brought back memories of its $49bn record-breaking bond in September with a $4.5bn offering this week that sucked in nearly $23bn of orders.

Crédito Real underlined the strong market conditions Latin American borrowers are enjoying in March after a barren February, wasting no time in tapping a bond it issued less than a week ago.

The high yield bond flurry by Spanish issuers carried on this week, with strong issues from two debut borrowers. Solid demand allowed Grupo Isolux Corsan to increase its bond by €200m, while Grupo Antolin-Irausa accelerated its deal by a day.

Bank of America Merrill Lynch’s European debt team has lost four managing directors in three weeks, with Julia Hoggett, the head of short term fixed income origination, covered bonds and FIG flow financing, the latest to announce her departure.