Caribbean

Property developer Country Garden, which holds the record for selling the Panda market’s largest bond, has obtained approval for a Rmb9.5bn ($1.44bn) issuance programme, the company said in a filing on Hong Kong Stock Exchange on Thursday.

Property developer Soho China has filed for a Rmb10bn ($1.5bn) medium term note programme with the National Association of Financial Market Institutional Investors, in preparation for its debut deal in the Panda bond market.

China Resource Cement Holdings is making a return to Panda bonds more than a year after its debut in the Mainland’s onshore renminbi market.

The Commonwealth of the Bahamas returned to bond markets for the first time in nearly four years on Tuesday with a tight deal that performed well in secondary.

The Commonwealth of the Bahamas returned to bond markets on Tuesday with a 10 year average life deal more than twice the size of its previous largest issuance.

Sir Richard Branson spoke with GlobalCapital’s Lucien Chauvin on Wednesday, after meeting Caribbean heads of government and leaders of the World Bank and International Monetary Fund in Washington. Branson is pushing for a Marshall Plan to help the Caribbean cope with the relentless onslaught of hurricanes, exacerbated by climate change.

Borr Drilling, a Bermuda-registered, Oslo-headquartered offshore oil drilling company, has raised $650m with a 51% capital increase that was placed in an accelerated way on Friday evening.

Red chip property developer Joy City has hit the Panda bond market for the first time, raising Rmb1bn ($153.1m) from a three year bond on September 5. Although the deal was small in size, it caught the attention of some Bond Connect investors thanks to the issuer’s reputation.

Jamaica underlined the issuer-friendly conditions on offer in EM bond markets this week after an oversubscribed tap of two bonds that left some investors with allocations of zero amid a simultaneous buy-back.

The Commodity Futures Trading Commission (CFTC) this week settled with Aruba-based Copersucar Trading over wash trade allegations involving sugar futures traded on Intercontinental Exchange US.

Jamaica found plenty of demand for its annual bond issue on Tuesday, notching new issue concessions more usually achieved by higher rated credits.

Jamaica has announced initial price thoughts on taps of its existing 6.75% 2028s and 7.875% 2045s as it looks to raise new cash to buy back existing bonds.