North America

Chinese online luxury product retailer Secoo Holding has launched an IPO of American Depository Shares that could raise up to $114.8m.

Financial markets in the US reacted with relief today, as the devastation wrought in Florida by Hurricane Irma may be less bad than feared a few days ago. Most large US institutions affected ought to be financially strong enough to withstand the losses — but there could be heavy economic damage for people and businesses not covered by insurance.

Anglo-Dutch consumer goods company Unilever printed the fifth sterling corporate bond deal in three days on Monday. The £500m dual tranche deal offered investors seven and 12 year tenors.

A new name for the SSA market hit screens on Monday, picking three banks to run a dollar five year transaction. The borrower will share the market with dollar trades from Dexia Crédit Local and Finland.

Chairman of the Commodity Futures Trading Commission (CFTC) Christopher Giancarlo on Monday reemphasised his commitment to global regulators' mutual recognition of foreign clearing house (CCP) supervisory regimes, without forcing “identical implementation”.

A full €2.3bn of bond offerings from seven borrowers hit screens on Monday in the European high yield bond market, following last week's more than €3bn of new bonds despite fund inflows turning negative.

Zurich Insurance Group is reshuffling two of its most senior responsible investment officials, who are moving to new roles.

Euro corporate bond issuance returned on Friday after a blank day due to Thursday’s European Central Bank meeting. As the ECB’s president, Mario Draghi, said nothing to unsettle markets, US machinery maker John Deere and Italian oil and gas company Eni both priced deals in euros before the weekend, while Sweden's Akelius Property did the same in sterling.

Sherwin-Williams, the US paint and coatings maker, has issued its debut Schuldschein for €245m. It is the first US company to come to the market this year.

China’s RYB Education is slated to open books on Thursday for its $100m IPO on the New York Stock Exchange, said bankers leading the trade.

Yankee banks took advantage of favourable conditions and a funding lull from US rivals this week, going for size and diversity as the dollar market snapped back to life after the summer holidays.

The dollar high grade bond market returned to barnstorming form this week following the summer break with a Who’s Who of corporate America tapping the market.