Banks

JP Morgan has hired veteran banker Yuka Uehara to its Japan equity capital markets team, and brought on Jinsoo Ha to lead ECM in South Korea, according to an internal memo seen by GlobalCapital Asia.

GlobalCapital has published the nominations for its Sustainable and Responsible Capital Markets Awards. The winners will be announced on September 17, at our Awards Ceremony in Amsterdam.

Issuers are set to gravitate towards selling higher yielding regulatory debt in the post-summer issuance window, so that they can attract investors and compensate for low overall interest rates. But FIG bankers are unsure what concessions will be needed to get deals away.

Issuers and investors are rapidly coming to terms with the idea that negative yields will become a permanent feature of the financial institutions bond market. Debt capital markets officials say that it is now only a matter of time before a bank plucks up the courage to sell a new senior bond with a sub-zero yield, following examples set in the covered bond market.

SNCF Réseau steamed ahead with a new century bond issue this week, its second and largest deal to date, amid declining rates that has seen more and more investors take a risk at the ultra-long end in return for yield pick-up.

German agency KfW is “open to further business in [both] Singapore and Hong Kong dollars” as it looks to expand its recently updated green framework. Last week, the agency made its green bond debut in Hong Kong dollars, placing a two year private placement on August 2.

Rating: //AAA

Big banks and boutiques alike are ramping up operations to boost revenues in France, Europe’s most competitive investment banking market. But is there enough business — and talent — to go around? By David Rothnie.

Lloyds Bank dipped into dollars for senior funding on Wednesday, a day after UBS launched a deal in the same currency. A syndicate official noted that European financial institutions are being tempted across the Atlantic amid more inhospitable conditions in the euro market this summer.

Indian non-bank microloan provider Spandana Sphoorty has wrapped up its IPO, just about covering the deal thanks to a strong showing from institutional investors. It is set to be priced at the top of guidance, according to a banker on the deal.

German carmaker Daimler wrapped up a Rmb5bn ($710m) two tranche private placement Panda bond on Wednesday. Returning to the market after eight months, the Panda bond regular drove through turbulence.

Topsy Mathew, Standard Chartered's regional head for corporate finance in Asean and South Asia, has resigned from the bank.