North America
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A trio of benchmark issuers hit the dollar market on Thursday to ensure June got off to a brisk start as investors remained in risk-on mode in a holiday shortened week. -
Bank of Nova Scotia picked up £250m of senior funding at an attractive spread versus its euro levels on Thursday, but demand for the notes may have been stunted after Moody’s slashed the ratings on several Canadian banks in mid-May, including Scotia.
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Online gaming and media platform VNG Corp has set in motion plans for an IPO on the Nasdaq, which would make it the first Vietnamese firm to list in the US, according to a statement from the company.
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LedgerX, the US-based trading and clearing platform, has raised $11.4m to help finance the start-up of an options exchange that will trade bitcoin and other digital currencies.
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The stampede by corporate dollar issuers continued into a second consecutive week with Italian energy giant Enel printing the largest ever deal by an Italian corporate in the US investment grade market, and the second biggest Yankee deal of 2017.
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With borrowers universally ahead of schedule in their funding programmes but investors hungry for more supply, attention is turning to the market for socially responsible investments. Three agencies hit screens to sell SRI bonds this week, while a fourth is on the road marketing another.
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JP Morgan smashed through $15bn of year-to-date TLAC issuance this week as a trio of banks hit the dollar market, ahead of a brief break for Memorial Day holiday.
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Sharon Bowen, one of only two sitting commissioners on the US Commodity Futures Trading Commission, has voted to advance budget proposals made by acting chairman Christopher Giancarlo, but also said the regulator was underfunded and should receive contributions from market participants.
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Export Development Canada breezed through its first green bond issue of the year on Wednesday, building a book nearly twice subscribed and tightening 2bp from initial price thoughts.
