Japan
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Qatar's Commercial Bank has signed a $166m loan from a group of Asian lenders, mostly Japanese, extending a trend of Middle Eastern borrowers heading east for cash. -
Softbank, the Japanese technology and telecoms group, has taken a ¥1tr ($9.5bn) loan for its £24bn acquisition of Arm Holdings, the UK firm which designs mobile phone chips. The loan could be syndicated to non-Japanese banks if the refinancing strategy requires it, said one senior banker.
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In this round-up, Singapore Exchange reports strong trading of RMB currency futures, China’s RMB cross-border trade settlement jumps and sales under Mutual Recognition of Funds (MRF) pass Rmb2bn in May. Plus, a recap of GlobalRMB's coverage this week.
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Big moves in credit, equity and foreign exchange markets this week were magnified by mass unwinding of previously popular trades as investors capitulated to a reversal of fortunes for Japan and European banks.
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Simon Galvin has left Goldman Sachs to join Deutsche Bank as head of ECM syndicate Asia, filling a role left vacant since March, according to sources close to the move.
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Citi has named Jason Rekate as its new head of the corporate banking division in Japan.
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The result of the UK referendum on EU membership is likely to encourage Japanese triple-A investors to focus more heavily on US CLO paper, said CLO market participants this week.
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Barclays has made several senior appointments to its Asia Pacific and EMEA syndicate teams, combining its bond and loan platforms.
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Sumitomo Mitsui Financial became the first Japanese bank to issue euro denominated holding company bonds this week, as the country’s banks make steady progress on their Total Loss-Absorbing Capacity (TLAC) funding targets.
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Sumitomo Mitsui Financial launched its first euro denominated holding company bonds on Tuesday, as Japan’s banks make steady progress on their Total Loss-Absorbing Capacity (TLAC) funding targets.
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Mexico is likely to become the first Latin America sovereign to issue a Samurai bond this week after tightening guidance on a three and five year deal.
