United States

Santander Holdings USA offered investors two tranches of senior debt on Monday as it looked to close in on its total loss-absorbing capacity (TLAC) requirement.

ING is looking to build a footprint in US investment grade and high yield debt markets, with the bank hoping to win more syndication mandates from existing corporate clients, senior figures at the bank said on Thursday.

Bank and finance names this week made their final moves in the dollar market ahead of the Federal Reserve’s final meeting of the year, which starts on December 12.

Investors have given a festive welcome to issuers looking to wrap up their funding plans ahead of November’s jobs report and the final US Federal Reserve meeting of 2017.

Nine years after the rescue of Lehman Brothers’ EMEA and Asian investment banking operations triggered a failed attempt by Nomura to enter the big league of investment banking, the Japanese bank has got the deal bug again, writes David Rothnie.

McGraw-Hill Education launched a new payment-in-kind (PIK) toggle high yield bond on Wednesday, as part of a bigger refinancing package. Once an indicator of peaking credit conditions, PIK toggle deals have become increasingly rare as borrowers head to cheaper and more flexible second lien loans.

US tax reform proposals are expected to weigh on investment grade corporate debt issuance next year, while the decreasing tolerance of equity investors to corporate leverage levels could also change M&A financing behaviour, said credit analysts at Bank of America Merrill Lynch’s 2018 outlook event on Tuesday.

A raft of issuers from the US energy sector swarmed the leveraged loan and high yield market on Monday, overcoming a brief hiccup in the market that caused three energy issuers to pull deals earlier in the month.

The Chicago Board Options Exchange on Monday said that it would launch bitcoin futures on December 10, more than a week ahead of competing exchange operator Chicago Mercantile Exchange Group.

Friday’s sharp turnaround in US sentiment left some European corporate bond players unsure as to how their market might open on Monday. But the tone turned out to be positive and US chemicals company Celanese Corp was ready to take advantage.

CME Group, CBOE Futures Exchange and Cantor Exchange have all self-certified bitcoin derivatives contracts with US regulator the Commodity Futures Trading Commission.

Bankers are calling for a quieter December after the dollar market smashed the all-time issuance record with more than a month to spare as borrowers front-loaded to make way for a jumbo offering from Chinese e-commerce giant Alibaba.