Nomura

Equity advisory has made a triumphant return to the mainstream of banking, as pressures on big banks push corporates into the arms of independent advisers. But not all new entrants will be successful, warns David Rothnie.

Hotel Lotte’s IPO could yet go live by the end of 2016 despite being postponed on Monday after prosecutors raided the offices of Lotte Group, according to a statement from the parent.

Hotel Lotte could yet give a boost to South Korea’s equity capital markets by going live with its IPO by the end of 2016, announcing the possibility just days after it postponed its transaction.

South Korea’s Woori Bank is expected to bring a dollar-denominated Basel III additional tier one bond to the market as early as September after its plans were abruptly put on hold in April due to a proposed changes in rules.

Springer Nature, the German academic book publisher, plans to prepay €420m of high yield bonds, refinancing them with a new secured loan.

Hotel Lotte Co has axed plans for a listing that could have raised W5.3tr ($4.5bn) after a raid by investigators on the offices of its parent proved one setback too many for the issuer.

French glass packaging maker Verallia plans to sell the second largest single-B rated tranche of the year on Monday, after a pumping week of high yield issuance.

Investigators raided the offices of Lotte Group early Friday morning, one week after they did the same to its subsidiary Hotel Lotte Co, which is in the midst of trying to launch an IPO.

Springer Nature, the German publisher, Unit4, the Dutch software firm, and German telecoms firm Tele Columbus have all brought refinancing deals to the leveraged loan market this week.

Springer Nature, the German publisher, Unit4, the Dutch software firm, and German telecoms firm Tele Columbus have all brought refinancing deals to the leveraged loan market this week. But the majority of deal flow remains in the mid-market space.

According to the statement emailed by Cathay Financial Holdings to GlobalCapital Asia, the Ultrasonic loan was signed among Nomura and the participants in August 2014. A month later, the CEO of the company Qingyong Wu went missing after which the company defaulted on its obligations.

Legal action launched by six Taiwanese lenders against Nomura for a syndicated loan that went into default, has unearthed simmering conflicts in the tightly knit Asian syndicated loan community. The fallout will have ramifications for Nomura and the wider loan market, writes Shruti Chaturvedi.