North America

After two days of no euro denominated corporate bond issuance, National Grid North America came with a rare corporate bond transaction on Wednesday. Pricing for the seven year deal moved in 25bp from the wide end of initial price thoughts (IPTs) in a trade that bankers away from the deal praised.

National Grid North America came with a rare transaction on Wednesday, dragging pricing in 25bp from the wide end of initial price thoughts in a trade that bankers away from the deal praised.

A loan of around $400m for Indian data analytics firm Mu Sigma is open for retail participation after a successful senior phase when seven lenders joined the deal.

Standard Chartered has appointed a new head of US corporates to lead coverage of investment grade North American corporate issuers in debt capital markets.

All of the 34 banks taking this year’s Federal Reserve stress tests passed for the first time in the test’s history. For the European-owned firms, that reflects concerted efforts to improve their qualitative processes, while for the major US firms, the result has set off a bonanza of capital returns.

Dollar borrowers wrapped up their funding projects before the July 4 holiday weekend and dodged a global sell-off as central bankers pointed to the end of monetary stimulus.

The Chicago Mercantile Exchange (CME) on Wednesday announced it could clear over-the-counter FX options, after receiving regulatory approval from the Commodity Futures Trading Commission.

Best, the Chinese logistics company backed by Alibaba Group Holdings, has announced its intention to float on the New York Stock Exchange or the Nasdaq.

The Commodity Futures Trading Commission (CFTC) has allowed Euronext to provide US investors with direct access to CAC 40 and AEX dividend index futures.

Tradeweb becomes Bond Connect’s first foreign trading platform provider, both northbound and southbound fund flows of the Mutual Recognition of Funds scheme pick up speed in May, and the State Administration of Foreign Exchange (Safe) plans favourable FX policy for Chinese companies investing in Belt and Road projects abroad.

US vehicle parts manufacturer Federal-Mogul cruised through its second fixed rate deal in the euro high yield market this week.

The governor of People’s Bank of China says Chinese banks must face international competition, the China Securities Regulatory Commission (CSRC) considers changes in Stock Connect daily trading quotas after MSCI’s A-share inclusion, and the Hong Kong Exchange plans to launch CNH and dollar gold futures on July 10.