United States

A group of 24 investment management firms has pledged to begin voluntarily clearing their single name credit default swap trades through central counterparties (CCPs), hoping this will encourage other buyside firms to follow suit and help revitalise the credit derivatives market.

Terex, the US lifting and material solutions company, has allocated $900m equivalent across two term loan facilities yesterday, widening the pricing on both.

With the market 81.4% sure that the Fed is going to raise rates today, according to the Fed Fund futures, the focus will be not be so much on the numbers, but the language used. One thing already seems clear, however: euro issuance stands to benefit hugely from a rate rise.

New York Stock Exchange listed Trina Solar is the latest Chinese company to announce plans to go private, and has picked Industrial Bank as the financial adviser and arranger of the debt financing.

Intercontinental Exchange (ICE) has completed a $5.2bn acquisition of Interactive Data Corporation.

The US Securities and Exchange Commission proposed rules last Friday aimed at curbing funds’ use of derivatives, in a move that could force some exchange traded funds (ETFs) to close.

A US public sector borrower will bring a large green bond which will “startle the US market”, as green bonds gain further importance after COP21, according to market experts.

Both the investment grade and high yield markets in Europe ground to halt on Monday, as the approaching holidays put the brakes on the market and volatility spikes.

The US Securities and Exchange Commission will meet on Friday and is expected to propose tough restrictions on the use of derivatives in funds sold to retail investors.

Intercontinental Exchange expects to complete its acquisition of Interactive Data Corporation early next week, having received all regulatory approvals.

Investors showed their lack of risk appetite for long dated paper from energy companies after Marathon Petroleum was forced to widen pricing on a 30 year tenor.

The M&A financing frenzy that propelled the US corporate bond market to record issuance this year is showing no signs of slowing, with bankers expecting more of the same in 2016. This week it was Visa's turn to round off what has been a stupendous year for jumbo deals by making its dollar debut with a blockbuster $16bn trade. David Rothnie reports.