North America

In the US, stock exchanges have clashed with proxy advisers. Now, those exchanges' German peer Deutsche Börse has bought a majority stake in one of the major advisers, ISS — but says it will ensure the latter's independence.

Ford shrugged off its loss of investment grade status to return to the Swiss franc market this week after a 19 year absence to print a three year deal targeted at private bank investors.

Ontario Teachers’ Finance Trust hit the market on Thursday for the issuer’s first ever green bond — a €750m no-grow 10 year, for which it received an overwhelming response, causing a 7bp tightening.

Goldman IBD heads: Lemkau out, Esposito in — UBS whistleblower hired by Therium — New Nordic bosses at Citi's BCMA

Syncona, the UK life sciences investor, has launched a new gene therapy company, through a £45m series A private fundraising round. The company could be a future candidate for a lucrative biotech listing.

The tripling of Chinese e-commerce firm Pinduoduo’s shares this year did little to deter investors from pouncing on its follow-on and convertible bond outing. It raised about $5.3bn from the combined transactions, paving the way for further expansion and growth.

The banking landscape in Spain and the UK is set to change, amid pressure on banks' profitability, after a flurry of announcements this week.

Mexican power generator FEL Energy, which sells 70% of its capacity to state-owned electric utility CFE, priced a debut bond deal on Wednesday as investors were unshaken by noise surrounding a different Mexican credit with a long-term agreement with a government-owned entity.

NRG Energy has priced a roughly $3.8bn five tranche bond offering — including the first ever sustainabilty-linked notes from a US issuer — to finance its acquisition of North American energy retailer Direct Energy.

Deutsche Börse has beefed up its offering in sustainable finance and corporate governance services through purchasing a majority stake in ISS, the ESG data and analytics provider.

Mexico will hold a virtual non-deal roadshow with Japanese investors next week, according to Gabriel Yorio, Mexico’s deputy finance minister.

As investors sought gold and silver as a hedge against inflation and uncertainty, investment banks with the capabilities to act in these markets benefitted. Some made more than $100m in precious metals in the third quarter, according to Coalition Greenwich.