Nomura
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NRW.Bank was well subscribed for its inaugural Sonia-linked floating rate note on Tuesday, with the books closing just one hour after opening. -
NRW.Bank has picked a syndicate of three banks to lead its inaugural Sonia-linked floating rate note, as it looks to become the second German agency to issue a public trade in the format.
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An explosion of international issuance in yen is being accompanied by a re-evaluation of traditional routes of access into Japanese capital markets. Euroyen deals and Tokyo Pro-Bonds are rapidly establishing themselves as viable alternatives to the Samurai bond market. Tyler Davies reports.
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Banco BPM and Abanca made use of favourable issuance conditions this week to beef up their capital buffers. The Italian lender priced the 10 year non-call five deal at a 4.25% coupon and the Spanish issuer priced its 10.5 year non-call 5.5 year bond at 4.625%.
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Investors have not completely shunned Libor-linked floating rate notes from public sector borrowers, as a trade from Swedish Export Credit Corp showed this week.
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Abanca Corporación Bancaria returned to the euro bond market on Thursday for its second tier two of the year. The Spanish lender was able to tighten pricing for its €300m deal by 50bp, helped by an order book that was nearly four times subscribed.
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South Korea’s Woori Bank has raised $550m from a Basel III-compliant additional tier one bond sale. Despite the softer market backdrop, the firm pulled off the deal without paying any premium.
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GlobalCapital is pleased to announce the winners of this year’s Global Derivatives Awards. The winners were unveiled at a gala dinner at the Banking Hall in London on Wednesday night.
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Crédit Agricole and Banque Fédérative du Cedit Mutuel had contrasting responses for preferred senior bonds in the sterling market on Wednesday, with the French banks deciding to hit the market as members of the UK parliament returned to their seats.
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Kommuninvest kicked off the dollar market this week with a $1.25bn blowout, despite it being at record tight levels over Treasuries, according to a banker on the deal. Following on from Kommuninvest’s deal, a wide range of SSAs look to print across the curve, including rare issuer IDB Invest with its five year dollar bond debut.
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South Korean conglomerate Lotte has kicked off bookbuilding for a real estate investment trust IPO, marking the first float attempt in the country since Homeplus Stores pulled its billion-dollar Reit listing earlier this year.
