United States
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Intercontinental Exchange has appointed a founding member of the Bank of England’s Monetary Policy Committee as a director of ICE Benchmark Administration. -
An auction to settle senior credit default swaps referencing the Commonwealth of Puerto Rico will take place on August 17, the International Swaps and Derivatives Association’s Determinations Committee has agreed, following the US territory’s failure to pay credit event.
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The costs incurred to centrally clear derivatives trades could be greater than transacting them bilaterally, US government researchers have argued, in findings that would deal a blow to regulators’ attempts to curb systemic risk in the global market.
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IHS Markit has launched indices that track US dollar, sterling and euro investment grade infrastructure corporate bonds, as well as US dollar high yield infrastructure names.
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Wells Fargo paid its third visit in 12 months to the 10 year part of its euro senior curve this week, attracting strong demand for a deal deemed fairly priced.
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Fosun International-backed insurer Ironshore is looking to raise some $100m via a US listing in a trade to feature only secondary shares, according to a filing with the US Securities and Exchange Commission.
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Teva Pharmaceuticals had the corporate dollar market in its thrall this week as it took advantage of US corporate earnings blackouts to print a $15bn M&A blockbuster that attracted nearly $70bn worth of orders.
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US banks coming out of earnings blackouts provided all the fare in FIG this week, and deals flew to investors who have seen almost no paper since mid-June.
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The first sterling senior unsecured FIG deals to hit the market since the Brexit vote brought in astonishing demand, first for a blockbuster £1bn trade from Wells Fargo, followed by a bond from Bank of America Merrill Lynch that brought total sterling issuance to £1.75bn on the week.
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Credit Suisse is the sole underwriter of a bridge facility for Galenica's $1.53bn acquisition of US biopharmaceuticals firm Relypsa, the acquirer said on Thursday.
