Nomura
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The list of lawsuits brought by pension funds against a group of banks and traders alleged to have manipulated the SSA market is now at least eight long, according to legal documents seen by GlobalCapital. It is likely that the lawsuits will be consolidated into a single action, according to one lawyer. -
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NRW.Bank will bring a no-grow $1bn three year dollar benchmark on Wednesday, after African Development Bank and Rentenbank on Tuesday comfortably raised dollars in longer tenors.
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The City of Bristol Pension Fund has joined the Boston Retirement System in filing a lawsuit against a group of banks and traders for alleged manipulation of SSA debt in the secondary market.
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A pair of public sector borrowers on Monday hit screens with mandates earlier in the day than usual, which bankers suggested was due to a desire to get ahead of other possible issuers.
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Another three SSA dollar deals hit screens on Thursday, all living up to the high standards set by a multitude of predecessors this week.
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The Masala bond market finally sprang into life this week as Housing Development Finance Corp sealed the first offshore rupee deal from an Indian corporate. With a benchmark now set and the currency one of the better performers this year, market watchers said the door has opened for peers to follow. Rashmi Kumar reports.
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Turkey's Sekerbank has mandated six banks for a Reg S only subordinated tier two Basel III compliant bond.
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South Korea’s KT Corp won over investors for 10 year paper on Tuesday, despite recent sharp movements in Treasury yields, as the borrower’s rarity value and industry strength proved attractive.
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KfW paved the way for a slew of dollar mandates from SSA borrowers on Tuesday with a $5bn new issue.
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Housing Development Finance Corp is set to put its name in the history books after launching the very first Masala bond from an Indian issuer on Monday evening. The offshore rupee trade has been a long time coming but if successful, it could unleash a torrent of new issuance from Indian firms.
