Nomura
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Two European banks — Nordea and Standard Chartered — issued Samurai bonds this week in an attempt to diversify their funding sources.
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The Republic of Korea has mandated two banks for a credit update with bond investors in London next week. -
A Nordic agency is set to tackle the 10 year part of the dollar curve — a tenor SSAs have largely shunned so far in May.
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The public sector borrower market is enjoying stability after weeks of turbulence, with a pair of issuers trebling the number of euro benchmarks so far this month.
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Two public sector borrowers have picked banks to run dollar deals on Wednesday — and even more deals could follow, said SSA bankers.
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Euros are back on the menu for FIG investors after Swedbank and Rabobank Nederland stormed the senior market on Thursday. Bankers are now looking forward to a string of deals next week.
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Nomura has lost a managing director from its FIG DCM team, GlobalCapital understands.
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Indonesia’s Puradelta Lestari raised just Rph1.01tr ($76.3m) from its IPO after pricing the deal at the lowest end of expectations and slashing the number of shares by more than half.
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The dollar market will still be the place to go for SSAs next week as the euro market comes to terms with a rampant repricing, but not every deal in the market this week fared spectacularly well.
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FIG bankers became steadily more concerned about supply prospects this week as stability in European rates looked far off.
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Nomura looks set to lose the head of its emerging market rates business in London as well as a senior trader, say market sources.
