Nomura

From being all but frozen out of the capital markets a little over two years ago, eurozone periphery sovereigns could soon be in the position to dictate terms and push investors on duration, said bankers this week, following Portugal’s return to the 15 year part of the curve for the first time since the collapse of Lehman Brothers and Spain’s longest ever print. New measures from the European Central Bank that sent yields tumbling could put the sovereigns in an even stronger position, although that might not extend to Greece, which is planning a seven year bond for later this year.

The Central Bank of Tunisia has hired Nomura to arrange a yen deal. The deal will be backed by the Japan Bank for International Cooperation, said a source close to the deal.

West China Cement will meet investors in Asia and Europe for a new dollar offering starting next week. The borrower is looking to raise money to redeem its existing bonds.

Rating: Aaa/AAA/AAA

Unédic is set to become the third issuer this week to bring a euro benchmark after the summer, having mandated a deal for Friday following deals for Finland and Bank Nederlandse Gemeenten (BNG) earlier in the week.

Svenska Handelsbanken prefaced what is expected to be a busy September for Samurai issuance on Thursday. The issuer drew an oversubscribed book for a five tranche deal, with more deals expected to follow as issuers look to take advantage of a favourable basis swap.

Svenska Handelsbanken sold its second ever Samurai print on Thursday, drawing a comfortably subscribed order book for a five tranche deal. BNP Paribas is expected to follow the issuer into the yen market next week, helping boost an already strong year for Samurai volumes.

The sovereign, supranational and agency sector shot out of its summer snooze on Wednesday, as the first benchmark sized deals in more than three weeks drew bulging books and bankers tipped more mandates to hit screens later in the day. Investors with cash to put to work, a lower level of upcoming SSA supply than the last few years and unexpectedly dovish comments by the European Central Bank president late last week were all contributing to a heavily bid market, said SSA bankers.

Kangaroos and Kauris — not dollars and euros — could grab the attention of supranational agencies in the coming months, with price rather than prodigious volumes likely to be the issuers’ focus as they flirt with near-completed funding targets. Jonathan Breen and Nathan Collins report.

The Japanese firm’s international investment banking aspirations are alive and well, writes David Rothnie

Indonesian oil and gas exploration firm Samudra Energy pulled its S$276.3m ($223m) Singapore IPO this week, as volatile market conditions following the S&P 500’s big fall led to weak demand from investors.

Indonesian oil and gas exploration firm Samudra Energy has pulled its S$276.3m ($223m) Singapore IPO, as volatile market conditions following S&P 500’s massive drop last week led to weak demand from investors.