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