North America

Fresh doubt has been cast on whether the record-breaking $100bn loan package for US chip maker Broadcom will come to fruition, after a US national security committee took the unusual step of issuing a public warning against the acquisition that the funds will finance.

Bank of Montreal offered investors a €500m four year floating rate bond on Wednesday, continuing a trend of issuers looking at the FRN format. The order books were thinly subscribed despite the defensive format of the trade.

Even allowing for the pause in European corporate bond issuance caused by the volatility of global markets early in February, the month's primary activity proved to be meagre. But investors are hoping the signs for March are better.

Chinese live streaming platform YY is looking to take its online game broadcasting platform Huya public with a US IPO.

Derivatives exchanges around the world reported strong February volumes this week, potentially painting a rosy picture for the year ahead as markets seem set to return to higher volatility.

National Bank of Canada and Commerzbank both came to the market with seven year covered bonds on Tuesday.

The low rates in Europe are making the euro high yield market an attractive option for US issuers like Belden, a St Louis-based manufacturer of telecoms equipment, which is launching a new euro bond to buy back old deals in euros and dollars. More US issuers are coming to euros, say bankers and investors.

Standard Chartered has hired a JP Morgan banker to lead part of its North American corporates team.

European implied equity volatility has fallen after Angela Merkel secured a fourth term as German chancellor and despite Italy's general election producing a hung parliament.

Toronto Dominion Bank this week issued a €1.25bn short five year euro covered bond with a modest concession that matched the record tightest Canadian euro covered bond spread, albeit with a rather low subscription ratio.

Chinese after-school education provider OneSmart International Education Group has filed an IPO prospectus with the US market regulator for a New York Stock Exchange listing of up to $300m.

On Thursday, Prologis, the US-based warehouse Reit group, became the first issuer from its sector to issue a green bond, when it sold a €300m 10 year deal.