Nomura

A group of Indian and international banks have signed up to manage the government’s sell-down of NBCC India, which is set to be worth around Rp22bn ($328.5m), a source familiar with the matter said this week.

A pair of public sector borrowers are set to join NRW.Bank in the dollar market this week, taking advantage of good conditions — and with perhaps one eye on the US presidential election in early November.

NRW.Bank will on Tuesday become the latest public sector borrower to enter a super strong dollar market that shows no sign of shutting down for the summer, after the German agency mandated banks on Monday.

India’s Aditya Birla Nuvo is planning to merge with Grasim Industries and in the process spin off its financial services business, according to a statement from their parent Aditya Birla Group.

India’s Infrastructure Leasing & Financial Services is eyeing a Rp15bn ($224.3m) IPO for an infrastructure investment trust (InvIT) later this year, according to a source familiar with the matter.

Nomura has appointed Ding Ding to its investment banking division in Asia ex-Japan as executive director and head of healthcare for Greater China, according to a memo seen by GlobalCapital Asia.

South Korea’s Nonghyup Bank is looking to reach out to international investors for the first time this year, having hired banks to work on a 144A trade.

India’s Infrastructure Leasing & Financial Services is planning to float an infrastructure investment trust later this year and is targeting a potential size of Rp15bn ($224.0m), according to a source familiar with the matter.

The SSA market enjoyed a resurgence of Kangaroo issuance this week. The flurry was mostly driven by Asian reverse enquiry, and stands in contrast to an inactive first half for SSA issuance in Aussie dollars.

KfW was able to price through its curve as it reopened an Australian dollar bond on Wednesday evening Australian time.

TSB successfully placed its tier two notes with new investors in the secondary market this week, in a deal that seemed to confirm confidence in both UK banks and the sterling market.

Nomura saw a Brexit-related bounce in its fixed income division when it reported its quarterly performance on Thursday, thanks to a healthy dispersion of client trading views. But the bank’s European operations still delivered an overall loss.