North America

Fitch Ratings said on Wednesday that it would continue to provide international ratings and research on Mexican government-owned oil giant Pemex even after the issuer said it was dispensing with the agency’s services. Previously, Mexican president Andrés Manual López Obrador had publicly criticised Fitch’s negative rating actions on Pemex, which accounts for nearly 10% of investor holdings of EM corporate bonds.

Coupang, an e-commerce company, has kicked off bookbuilding for an up to $3.6bn IPO that is set to be the largest ever US listing by a South Korean issuer.

Online car marketplace Autohome has launched the roadshow for a secondary listing in Hong Kong. The float of new and existing stock could raise up to HK$7.6bn ($983.2m).

Sameer Rehman, director of debt and capital markets at TD Securities in London, is heading back to Toronto after 12 years in the UK to focus on Canadian public sector borrowers.

Blank cheque firm Magnum Opus Acquisition has set in motion a $200m New York Stock Exchange IPO, filing paperwork with the US regulator on Monday.

Tuya, an internet-of-things cloud platform provider, is eyeing around $100m from an IPO of American depositary shares (ADS).

Bank of Nova Scotia returned to the dollar market with its first new trade in five months this week, after reporting its fiscal first quarter earnings. It was followed by Truist Financial selling an inaugural social bond.

A new special purpose acquisition company backed by Tidjane Thiam, the former CEO of Credit Suisse, has raised $300m from investors.

The sell-off in the US Treasury and equity markets intensified this week as hopes rose of faster economic growth which could lead the Federal Reserve to taper quantitative easing. But that did not stop Japanese telecoms company Nippon Telegraph and Telephone Corp raising $8bn with its first dollar bond issue for nine years, amid a stampede for cheap funding.

Mexican broadcaster TV Azteca, which missed a coupon payment on its international bond earlier this month amid plans for a 'debt reorganisation', surprised analysts by posting strong fourth quarter results this week.

Indian renewable energy company ReNew Power is planning to list on the Nasdaq in the US through an $8bn merger with a special purpose acquisition company (Spac).

Tryg Forsikring found strong demand for a new restricted tier one (RT1) bond in the Swedish market on Wednesday, as it looked to optimise its capital structure in preparation for the purchase of RSA Insurance Group’s Nordic businesses.