Nomura
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Chong Hing Bank is selling Asia's first Basel-III compliant tier two dollar bond of the year, part of an exchange plus new money offering. -
Nomura has appointed a new head of CEEMEA DCM, a newly created role, as it looks to expand its offering in emerging markets.
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The Japan Bank for International Co-operation (JBIC) found traction with a stellar four tranche offering on Thursday, gratifying investors feeling the pinch from a year that has been somewhat light on dollar supply.
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The UK Debt Management Office broke yet another record on Tuesday, building its largest ever book in cash terms for an inflation-linked syndication. The demand was such that the bond then tightened in secondary to move past the fair value level at the book open, said one of the leads.
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Midstream energy company Oneok made a convincing return to the dollar market on Thursday with its first investment grade deal in two years.
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The Japan Bank for International Cooperation (JBIC) hit the whole dollar curve on Thursday, launching a quadruple tranche dollar benchmark and managing to pull in spreads by 4bp-6bp on all four tranches.
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Chong Hing Bank plans to replace its legacy tier two notes with new Basel III compliant additional tier two bonds. Roadshow for the new money portion will be held this week, with the exchange offer set to expire next Friday.
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The European Bank for Reconstruction and Development (EBRD) printed a $500m floating rate note on Wednesday, coming just ahead of the Japan Bank for International Cooperation (JBIC), which is preparing several tranches of dollar paper for Wednesday.
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Public sector borrowers are staying conservative in the dollar market this week, opting for short dated trades or floating rate notes. The trend is likely down to issuers having one eye on expected Federal Reserve rate increases in the US, said bankers.
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The UK Debt Management Office broke yet another record on Tuesday, building its largest ever book in cash terms for an inflation linked syndication. The demand was such that the bond then tightened in secondary to move past the fair value level at the book open, said one of the leads.
