Japan

SMBC has mandated leads for a roadshow with plans to issue its first dollar covered bond and the second in euros.

In this round up, the China Securities and Regulatory Commission (CSRC) gave permission for eastbound Sino-Japan ETFs, Shanghai Stock Exchange (SSE) set up a scheme for investors to trade defaulted or high risk bonds, and the head of the Chinese banking regulator warned traders of ‘huge losses’ if they shorted the renminbi.

Japan's Norinchukin Bank revealed in its full year 2018 earnings presentation Wednesday that it had grown its CLO holdings by 8.8% during the first quarter of 2019, although a look at its books reveals a bank that is aggressively pursuing yield beyond its borders.

Sumitomo Mitsui Financial Group issued a green senior bond on Wednesday and paid no new issue premium after it received demand of twice its final size of €500m.

The Republic of Indonesia raised ¥177bn ($1.6bn) from a six tranche bond sale in Japanese yen on Thursday, making it the largest public Samurai bond deal from an Asian country.

The European Investment Bank (EIB) has moved its new Climate Awareness Bond (CAB) documentation beyond the eurozone with the sale of a Polish zloty bond to a single Japanese investor.

In this round-up, former Bank of China chairman Chen Siqing has been moved to be chairman of Industrial and Commercial Bank of China, China’s gross domestic product (GDP) grew 6.4% and the first batch of funds keen to invest in Shanghai tech board listing have received approval to do so

Nomura announced in its results on Thursday that its wholesale business made a loss both in the fourth quarter and in the year as a whole. The Japanese bank is looking to cut back the division.

CLO anchor investor Norinchukin Bank is said to be looking at a full calendar of deals in the next two months, leaving some managers not on the Japanese bank’s list planning to revive structures not seen since before the last crisis in a bid to drum up interest and improve the arbitrage function of their CLOs.

Bank of America announced a series of leadership changes in Japan and Australia last week.

Nomura’s growth plan in its latest restructuring depends on sweeping away regional fiefdoms while finding greater consistency. History suggests this could be a tall order, writes David Rothnie.

The executive chairman of Nomura’s Middle East and North Africa business is among those set to leave the firm as part of a big restructuring. Senior bankers in EMEA capital solutions and convertibles are at risk of redundancy