Nomura
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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. -
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.
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Greece’s fudged payment to the IMF and a resumed rates sell-off has bankers already writing the week off in euros, but Pohjola Bank has shown issuers an escape route in sterling.
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It was a case of second time’s a charm for Brightoil Petroleum, with the issuer raising HK$1.30bn ($167.50m) from a top-up placement after its first attempt two months ago flopped.
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Execution risk has been pushed sky high in bank capital after NordLB, a German bank, was forced to pull an additional tier one print on Thursday, writes Tom Porter.
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NordLB put its debut additional tier one print on ice on Thursday morning, with a sharp sell-off in AT1 paper causing the leads to postpone the deal.
