North America

With strong demand right off the bat, Chinese firm RYB Education has broken through the top of guidance to raise a higher $144.3m from its US flotation, according to a source close to the deal.

The US Commodity Futures Trading Commission (CFTC) has extended its existing 'no-action letter' relief and has given additional relief in regards to the reporting obligations that are required by the ownership and control reports (OCR) final rule.

Equity derivatives experts do not expect equity volatility to pick up from its current low level any time soon. Some of the potential political hurdles have been overcome and some see little to trouble them until the Italian elections in the second quarter of next year.

Finnvera will on Wednesday enter a searing market for three year dollars, following a similar trade from Bank Nederlandse Gemeenten that rounded off the Dutch agency’s dollar benchmark funding for the year.

Genuine Parts Company (GPC) will issue $2bn of bonds and loans and ramp up the size of an existing revolver to fund its purchase of France’s Alliance Automotive Group (AAG) when it buys the auto parts wholesaler from private equity towards the end of this year.

US machinery manufacturer, John Deere, returned to the euro corporate bond market on Tuesday, selling its second deal in September. The €500m five year deal was issued by the company’s John Deere Bank entity.

The US Commodity Futures Trading Commission has fined Bank of America Merrill Lynch $2.5m for failures of supervision and record-keeping, connected with an investigation by CME Group that found evidence of front-running.

Singapore-based internet company Sea has kicked off pre-marketing for a US listing that could raise up to $1bn, according to a banker close to the deal.

The FIG dollar market was subdued this week, with self-funders remaining on the sidelines as the Federal Reserve hinted at higher rates and announced the reversal of its quantitative easing plan.

Chinese online retailer of luxury goods Secoo Holding priced its $110.5m listing of American Depository Shares on Thursday, finding favour among investors thanks to an attractive discount.

Royal Bank of Canada bagged Rmb900m ($136.57m) from its inaugural public offshore renminbi bond on Friday, making it just the third issuer to seal a dim sum bond this year.

Investors bought into attractive yields from triple-B rated issuers that jumped into the US corporate bond market ahead of the Fed’s well flagged announcement that it would reverse quantitative easing.