Nomura

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.

7 Days Group Holdings has closed its fundraising at $300m, fully exercising a $50m greenshoe, as the deal was oversubscribed thanks to relationship banks piling in.

Indonesian oil and gas exploration firm Samudra Energy is tapping investors to raise up to S$276.3m ($223m) in an IPO. Samudra started receiving bids on July 25 and is planning to list by the middle of August.

7 Days Group Holdings has closed its fundraising at $300m, opting to fully exercise a $50m greenshoe, as the deal was oversubscribed thanks to relationship banks piling in.

Indonesian oil and gas exploration firm Samudra Energy is tapping investors to raise a maximum of S$276.3m ($223m). Samudra started receiving bids for its Singapore IPO on July 25 and is planning to list by the middle of August.

Caisse des Dépôts et Consignations sold its debut Samurai and the first in syndicated format from a western European issuer in more than two years this week. But despite super low pricing versus yen swaps — two tranches were priced through swaps, the first time for a syndicated Samurai in decades, according to the leads — a difficult basis swap means that few eurozone agencies are likely to follow.

A favourable basis swap and attractive opportunities at the far end of the curve are likely to spur European agencies to take to the far end of the curve in Australian dollars in the coming weeks. Opportunities also exist in the belly of the curve, however, with the Inter-American Development Bank benefiting from an attractive spread over local public sector paper for a long five year this week.