United States

Mergers and acquisitions fever is gripping the dollar market as investors are primed for jumbo deals from AT&T and Bayer.

In the political sphere, Europe and North America appear to be travelling in separate directions since the election of Donald Trump as US president in November 2016, as was evident at the recent G7 talks.

Chinese used car e-commerce platform Uxin began bookbuilding on Thursday for an IPO that could raise up to $475m.

The margins paid by Michigan utility CMS Energy on two revolving credit facilities totalling $1.4bn will, for the first time, be linked to its sustainability goals, as a result of amendments signed on June 5.

New York Stock Exchange-listed Sea, an online gaming firm, is bookbuilding for its debut convertible bond worth some $400m.

TruePTS, a derivatives post-trade company set up by trueEX, is gearing up to face off against derivatives processing utility MarkitSERV as it launches its offering for buy-side firms.

Several issuers took new deals on the road in the second half of May and early June, but have struggled to find a window to execute their deals after the roadshows were completed. Recruitment firm Manpower met investors from June 6 to June 8 before selling its deal on Tuesday.

BNP Paribas’s Singapore chief executive officer is relocating to the US to take up a new position within the bank, according to sources.

Interest rate derivative volumes in swap execution facilities (SEFs) were up 22.3% in May compared to the same month last year, according to new data from the Futures Industry Association.

The iShares 0-5 Year High Yield Corporate Bond exchange traded fund (SYHG), which tracks short dated US high yield credit, has unwound almost 40% of its asset base in the last week and a half after investor Charles Schwab pulled its money to put into another high yield fund.

Yankee and Wall Street banks led a surge in FIG supply in dollars this week, grabbing the chance to exploit improving market conditions.

Corporate bond issuers enjoyed tighter spreads and strong order books amid an improvement in issuance conditions as they jumped back into the dollar market this week.