Japan
-
-
-
Japan Bank for International Cooperation (JBIC) made a rare appearance in three year dollars this week, opening the way for its peers to follow. But there is little in the dollar pipe from Japanese or any other SSA issuers — all of which are well funded — after a week when US rate expectations were jolted by comments from Federal Reserve chair Janet Yellen. -
Japanese lenders have been largely missing from headlines of RMB-related initiatives, but some are starting to dip their toes into RMB infrastructure, starting with the cross-border interbank payment system (CIPS).
-
Electricité de France returned to the yen bond market in style last Friday, as it printed a four-tranche deal that included the longest ever Samurai note and the market’s first green bonds.
-
South American development bank Corporación Andina de Fomento (CAF) sold R$220.2m ($69.46m) of Brazilian real-denominated Uridashi notes on Tuesday in its first deal in the currency.
-
BPCE was looking to launch the first ever non-preferred senior bond in the Samurai market this week, as European banks aim to broaden the range of debt securities they offer to yen investors.
-
Ezaki Glico, a Japanese confectioner, sold a ¥30.9bn ($267m) Euroyen convertible through Nomura on Thursday, breaking a long dry spell in the market.
-
Equity-linked issuance in Europe burst into life on Thursday with the sale of a €500m bond for Prysmian Cables & Systems and the first Japanese CB of any size since September. Then on Thursday evening Immofinanz launched another deal. The clutch of deals suggests the market is wide open for issuers.
-
BPCE has filed documentation allowing it to issue total-loss absorbing capacity (TLAC) eligible senior bonds in the Samurai market, and the first ever yen-denominated non-preferred issue could arrive as early as next week.
-
Sumitomo Mitsui Financial Group (SMFG) was looking to sell a five year bond from its holding company on Wednesday, remaining the only Japanese ‘mega bank’ to look to euros for its total loss-absorbing capacity (TLAC) requirements.
-
European banks may lose out on the chance to finance one of the largest acquisitions in eastern Europe, after Japanese brewer Asahi won the €7.3bn bid to buy SABMiller’s regional assets. The outcome could mean that only Asahi’s relationship banks get a piece of the action.
