North America
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The US Commodity Futures Trading Commission has once again extended no-action relief to the Shanghai Clearing House, stating that it will not take action against it for not registering as a derivatives clearing organisation. -
On Tuesday, American fast food chain operator McDonald’s sold the sixth reverse yankee deal in a month, issuing a long six year tranche and a 12 year tranche to raise €1.2bn.
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Property developer Soho China has filed for a Rmb10bn ($1.5bn) medium term note programme with the National Association of Financial Market Institutional Investors, in preparation for its debut deal in the Panda bond market.
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China Resource Cement Holdings is making a return to Panda bonds more than a year after its debut in the Mainland’s onshore renminbi market.
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Export Development Canada is out with a three year dollar global that carries no-grow language — a tactic the agency once used frequently but dropped from its other benchmarks this year.
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Derivatives markets participants listening in to BBC Radio 4 on Monday morning would have been surprised by a voice that they are more accustomed to hearing in conference halls — that of Christopher Giancarlo, chairman of the Commodity Futures Trading Commission.
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The Province of British Columbia has again chosen Bank of China and HSBC China for its upcoming return to the Panda bond market.
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Jianpu Technology appears to have made the right call to price its $180m IPO on the New York Stock Exchange below the initial range, after its shares traded up on their debut on Thursday.
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The march of responsible investing took a step into the high yield bond market this week, as both M&G and Candriam launched funds that will use environmental, social and governance factors to influence their investment choices.
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Two companies made their investment grade bow on Thursday as an improvement in sentiment encouraged borrowers to capitalise on decent conditions and wrap up funding in the final weeks of the year.
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World Bank capped off a series of 10 year dollar benchmarks from SSA issuers, on Tuesday, with the tightest spread to mid-swaps and US Treasuries in the tenor for at least two years. But further benchmark issuance in the currency — other than a rumoured Canadian deal — is unlikely, with issuers well-funded and investors winding down for the year.
