North America
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Mexican leasing company Operadora de Servicios Mega (Grupo Mega) became the latest Latin American high yield company to gain impressive pricing traction on Thursday, as it offered strong evidence that the region’s bond buyers are nonplussed by the coronavirus epidemic. -
The dollar corporate bond market has endured another quiet week as blue chip borrowers looked overseas and bankers bemoaned a lack of M&A activity.
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Five SSA issuers brought dollar deals to market this week, hitting screens in a variety of formats and tenors. With investors undeterred by volatile government bond yields, issuers made the most of excellent conditions to pull off impressive deals.
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Demand for Quebec’s latest green bond was high with investors pouring into the C$500m ($376.2m) no-grow deal, leading to the books closing after only 20 minutes.
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As Goldman Sachs hunts for incremental gains in its investment banking division, it need look no further than its European franchise, where it continues to trail JP Morgan, writes David Rothnie.
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Gerald Keefe, Citi’s head of Asia Pacific corporate banking, is relocating to New York for a new senior position in the bank’s treasury and trade solutions (TTS) team.
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Mexican state oil company Pemex will increase the size of its most recently issued bonds by more than initially planned after a debt exchange was comfortably oversubscribed.
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The US Federal Reserve board has permanently banned Andrea Vella, formerly a senior executive at Goldman Sachs, from the banking industry for his role in the 1Malaysia Development (1MDB) scandal.
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IBM Corporation issued a bond in euros on Tuesday, while Comcast Corporation and Dow Chemical came out with mandates in the currency. The deals come at a time when reverse Yankee issuance has been flagging compared with last year.
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The Province of Quebec has hired banks to lead a new Canadian dollar green bond — its first since the start of last year.
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The European Investment Bank and the Province of Quebec were well subscribed as they re-opened the dollar SSA market following the extended Lunar New Year holiday. Two more public sector borrowers will follow with dollar bonds on Wednesday, ahead of what is expected to be a busy month in the currency.
