Nomura

Nationwide Building Society this week issued its first euro benchmark covered bond since the UK’s referendum on leaving Europe and managed to find funding that was two years longer and half the spread of its last deal in February 2016. But it was unable to issue a 15 year.

Reliance Infrastructure has begun gauging investor appetite for a potential Rp30bn ($448.1m) IPO of its infrastructure investment trust, according to a banker familiar with the matter.

Fewer investors than is normal bought Stadshypotek’s seven year covered bond on Tuesday. However, although the deal had virtually no new issue concession, it was nevertheless well subscribed.

Nomura has appointed two to its emerging markets sales team as it attempts to grow its business.

Indian telecom hardware company Tejas Networks is just a few steps away from its IPO, having filed a draft prospectus with the market regulator more than eight years after first proposing the idea of going public.

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The prospect of a far-right leader becoming president of France rocked government bond markets this week. It led to a rare pulled French agency deal and will cause the country’s banks problems with their own huge funding needs. But as other issuers in eurozone countries facing elections showed, the picture of the risks ahead is complicated. Craig McGlashan reports.

Most of Asia's equity capital markets were still waking up from the post-holiday slumber this week but bankers in India were on their toes, with IPO activity in the country continuing apace.

Bank Nederlandse Gemeenten showed that investors in its dollar bonds are not overly concerned about an upcoming Dutch general election, as it priced a bond on Wednesday that was just $250m short of its record size in the currency. More public sector dollar supply is set for Thursday, after Asian Development Bank hired banks for a five year global benchmark.

Two public sector borrowers had very contrasting fortunes with no-grow three year dollar bond issues on a volatile Tuesday.

Shares of India’s second largest stock exchange BSE traded up 49% on their debut on Friday, following the hugely successful Rp12.4bn ($184.1m) IPO in January.

SSA bankers are gearing themselves up for another round of dollar supply next week after the currency’s record breaking January. Buoyant conditions even allowed one issuer to bring a bulky benchmark, despite this week’s public holidays in Asia.