United States

The US Federal Home Loan Banks system has become the latest borrower to print bonds linked to Sofr, the planned replacement benchmark for dollar Libor.

Global equity markets suffered a tough start to the week, which kept the EMEA blocks largely quiet.

Duke Energy Corp became the latest US utility to issue green bonds last week, when it priced a $1bn dual tranche offering.

Online fashion platform Mogu is planning to float on the New York Stock Exchange for up to $200m, according to a filing with the US regulator.

TFI Tab Food Investments, the owner of the Burger King chain in Turkey and China, has formally withdrawn its $220m IPO in the US after delaying it in February.

Volkswagen printed the biggest trade in its history as high-grade corporate borrowers blitzed the dollar market in response to the results of the US mid-term elections.

The eventful US mid-term elections have unlocked primary equity markets, with large block trades emerging after Tuesday’s vote. With the US political dynamic transformed, following the Democrats taking the House of Representatives, market practitioners are hoping the prospect of political gridlock in Washington will calm markets and make for better issuance conditions between now and the end of the year. Sam Kerr reports.

American pharmaceutical company Allergan, best known for its cosmetic drug Botox, returned to Europe on Thursday for a new three tranche corporate bond deal. The €1.7bn transaction fell short of the company’s debut €2.7bn deal, but was a filip for a market that had been silent the previous day due to the US mid-term elections.

New York-listed aircraft leasing company Aircastle, owned by Japan's Marubeni Corp, has returned to the loan market for a $250m revolving credit facility.

European markets rose on Wednesday morning, a day after the US mid-term elections in which the Democratic Party regained control of the US House of Representatives, curtailing the amount of power concentrated in the Republicans and with president Donald Trump. There are hopes it could lead to a final few deals before the year ends.

The trading platform provider Liquidnet announced today that it has added emerging market bonds to its institutional fixed income trading platform. To support the additional breadth of its offering, the company has hired two former bankers to its fixed income teams.

Equity investors are keeping their powder dry as US voters go to the polls in congressional elections with little stock trading taking place globally.