Nomura
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Nomura’s restructuring of its overseas activities has led to several senior directors in leveraged finance in both the US and Europe leaving the bank this week. -
Nomura announced on Tuesday that it was joining the investment bank restructuring party, with deep staffing cuts and the closure of several business lines in London and the US.
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Nomura plans to close most of its equity operations in Europe, shutting down origination, research, sales and equity derivatives, though it will keep a sales force focused on bringing Asian products to European clients.
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Chinese brokerage Orient Securities Co has applied for the go ahead to list on the Hong Kong Stock Exchange in an IPO that could raise $1.5bn, according to sources with knowledge of the deal.
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Bank Nederlandse Gemeenten stormed into a quiet European market for private placements on Monday with one of its largest euro MTNs in years.
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Inter-American Development Bank (IADB) on Tuesday threw open the door for dollar issuance as the second quarter of the calendar year kicked off, with several other issuers eagerly following.
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Portugal brought a dual tranche syndicated tap this week, in what some bankers felt was a disappointment amid a busy market where every other deal went well — but the leads were quick to defend the trade.
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The end of the Japanese financial year and strong demand from global asset managers propelled long dated paper in the Kauri and Kangaroo markets to success in the last two weeks.
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Asian Development Bank printed a A$225m ($170.8m) 10 year bond on Thursday, the largest issue size in this tenor from an SSA borrower in the Australian dollar market since 2014.
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The short end of the dollar curve is enjoying a purple patch, with public sector borrowers drawing big books and pricing with much lower new issue premiums than earlier in the year.
