North America

GlobalCapital talked to Sarim Farooqi, senior vice-president and treasurer at Laurentian Bank, about the issuer’s recent C$250m five year debut covered bond, established under its new C$2bn covered bond programme, and what the bank’s next moves in the covered bond market could be.

Two SSA borrowers landed in the euro bond market on Wednesday while a third lined up business for next week. Issuers may still be achieving good results but bankers believe conditions are turning bad.

Asia-focused special purpose acquisition company Seven Islands has filed for a $300m Nasdaq listing.

Deutsche Bank has hired Richard Robinson, a Morgan Stanley banker of some 21 years, as a managing director and vice-chairman of its global industrials group in New York.

Weil, Gotshal & Manges has hired a capital markets partner from Shearman & Sterling in New York.

The dollar market filled up on Monday with mandates from a broad range of SSA borrowers. Canada, European Investment Bank, BNG and Tokyo Metropolitan Government were all set to hit the market on Tuesday.

Chinese health insurance and healthcare crowdfunding platform Waterdrop has raised $360m after pricing its US IPO at the top of the marketed range.

CPPIB Capital made its debut in South African rand this week with an ‘old school MTN’ at the short end of the curve.

Four Latin America and Caribbean companies sold new issues in the dollar market at very tight looking levels on Thursday, as investors continue to feel pressure to put to cash to work amid extremely high liquidity.

Green bonds took centre stage in the US corporate bond market this week, as issuance began to mount again after the recess for earnings blackouts. No less than three deals paired green and conventional tranches.

The Financial Conduct Authority’s plan to look at helping US-style special purpose acquisition companies list in London smacks of short-termism. Even in the US, the epicentre of the Spac craze, there is a growing clamour for the Securities and Exchange Commission to toughen listing rules.

Alphawave, the Canadian company that develops technology for the semiconductor industry, is targeting a valuation of up to £3.2bn, according to the terms of its IPO on the London Stock Exchange.