Caribbean

Bermuda could issue a new bond in the coming days as it looks to fund the buy-back of up to $500m of debt.

Trinidad and Tobago tapped bond markets for the first time for four years on Monday with a deal that its finance minister claimed “achieved what our detractors said was impossible”.

Generals, and financial regulators, are always fighting the last war. So it proved when the coronavirus slammed into international markets in mid-March. Many of the tools developed in the 2008 financial crisis were deployed to great effect by central banks. The corners of the financial markets that propagated weakness in 2008 passed the test of 2020. But new risks were thrown up, forcing a new round of improvisation. What lessons will be drawn from the Covid-19 crisis?

Ninebot, an electric scooter producer backed by electronics giant Xiaomi Corp, has won approval to raise more than Rmb2bn ($282m) from listing China Depository Receipts on the Star board.

Beijing Enterprises Clean Energy Group (BECE) has returned with a three year renminbi-denominated puttable bond, bringing yet another green transaction to the Panda market.

TransJamaican Highway Limited (TJH), a toll road concessionaire that connects Kingston, Jamaica to its western suburbs, sold $225m of project bonds on Friday ahead of a proposed initial public offering by the government of up to 80% of the company.

The concessionaire on a 50km toll road in Kingston, Jamaica will begin meeting fixed income investors on Friday ahead of an international bond deal, as bankers say rarer issuers are likely to dominate supply for the foreseeable future.

After Mexican state oil company Pemex paid very little to issue a 40 year bond, rather than a 30 year, on Tuesday, two days later, the Dominican Republic opted for the same rare maturity.

Barbados is on the brink of completing an 18 month long debt restructuring after bondholders supported an exchange offer that the government said will cancel $200m of debt.

A group of Barbados' creditors on Wednesday welcomed the government’s launch of an exchange that could see the island nation wrap up an 18 month debt restructuring process.

Barbados prime minister Mia Mottley said she hoped more nations vulnerable to climate change would take steps to make their debt more resilient, after the Caribbean nation included a “natural disaster” clause in a restructuring agreement with international bondholders.

The prime minister of Barbados told GlobalCapital’s sister publication GlobalMarkets that she hoped more vulnerable nations would adopt natural disaster clauses in their debt documents to protect themselves from climate events.