Santander

Brazilian industrial conglomerate Cosan followed the strategy of its compatriot Petrobras on Monday, tapping recently issued bonds after a strong response to a tender offer.

Latin American DCM bankers are hoping that Transelec’s blow-out bond issue on Thursday will encourage more investment grade issuers from the region to come to market, saying that deal’s success was in part down to the short supply of triple-B corporates in primary markets.

Compañía Latinoamericana de Infraestructura & Servicios (Clisa), the Argentine infrastructure group, will open books on a new seven year bond on Monday, according to a local filing.

Argentine infrastructure company Compañía Latinoamericana de Infraestructura & Servicios (Clisa) is meeting fixed income investors ahead of a liability management exercise that highlights the stark improvement in the outlook for Argentine companies this year.

Two of the five US subsidiaries of European banks under the Federal Reserve’s supervision failed the regulator’s stress test this week, despite having some of the highest common equity tier one ratios under the Fed’s worst case scenario. The banks, mostly with US headquarters, that passed largely plan to increase dividends and buybacks

The Loan Market Association appointed four new board members at its annual general meeting this week

Spanish renewable energy and engineering company Elecnor kept the margin unchanged as it refinanced €600m of loans.

Brazilian meatpacker Marfrig clinched a drive-by bond reopening on Wednesday to notch up another success in its proactive liability management programme, raising $250m of seven year bonds that it will use to buy back existing debt.

Latin American borrowers rushed to new issue markets en masse on Wednesday to confirm the thesis that Brexit would have little or no effect on the region, with four issuers pricing bonds and several more likely to do so imminently.

Just one bank was absent from French automotives parts manufacturer Faurecia’s amend and extend deal signed June 24.

Electricité de France has named 16 banks to underwrite its €4bn rights issue, of which €3bn will be bought by the French government.

Argentina’s confectionary maker Arcor is tomorrow meeting investors in the US and London to market a $300m offering, the only active high yield deal that European investors can consider in the week after the UK's Brexit vote.