Nomura
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The Central Bank of Tunisia printed a ¥50bn 10 year bond on Wednesday from a ¥110bn book. The note was priced at par with a coupon of 1.61% to give a spread of 90bp over swaps — a much wider spread than Turkey paid for its own Japan Bank for International Cooperation-backed deal in September.
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Korea Exchange Bank (KEB) is looking to become the third Korean lender to tap the dollar market with a tier two bond, mandating four banks to handle the transaction.
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The Ministry of Japan has picked the banks that will lead the IPO of Japan Post Holdings, in a deal that is expected to be in the region of $15bn-$20bn and add a sizeable chunk to ECM volumes from the country.
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Record volumes of bonds and equities globally have boosted Asia Pacific investment banking revenues close to their record high. The first three quarters of the year generated a total of $10.5bn, a double digit increase on the same period last year, according to Dealogic.
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Bestway, the privately owned UK groceries wholesaler, has tightened pricing on £725m of loans amid high demand. The financing is for its £620m acquisition of the Co-operative Group's pharmacy division.
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Bestway, the privately owned UK groceries wholesaler, has tightened pricing on £725m of loans amid high demand. The financing is for its £620m acquisition of the Co-operative Group's pharmacy division.
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Dollar demand for sovereign, supranational and agency names made its first signs of slowing this week, as one benchmark fell short of full subscription and other deals, while still oversubscribed, showed signs of demand being less exuberant than in the first weeks after the summer break.
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Westpac New Zealand made its sterling debut this week, highlighting the strength of demand for sterling financial paper, particularly floating rate notes.
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Will Smiley, former co-head of ECM syndicate for Asia Pacific ex Japan at Goldman Sachs, has relocated to the bank’s London office.