United States

TFI Tab Food Investments, the owner of the Burger King chain in Turkey and China, has formally withdrawn its $220m IPO in the US after delaying it in February.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

The Depository Trust & Clearing Corporation (DTCC) on Tuesday said it had moved to the testing phase of a new credit derivatives “warehouse” that processes credit derivatives trades with distributed ledger technology (DLT).

Digital Realty, the US data centre company, has signed a global syndicated loan package totalling $3.3bn across a range of currencies, weeks after the firm ventured into the sterling bond market.

Coca-Cola European Partners opened the European corporate bond market on Monday with its third visit to the market since the company was created in 2016. The €400m nine year bond was three times subscribed.

FX and equity markets jump as a possible US-China trade deal is back in sight, Chinese president Xi Jinping promises more developments on free-trade zones and a registration-based stock system, and the Dubai International Financial Centre takes action to expand Chinese institutions’ access to the Middle East Africa and South Asia (MEASA).