Nomura
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The European Investment Bank is set to bring the first five year dollar benchmark from an SSA in nearly three weeks — and only the third since the first quarter — after mandating banks on Monday. The issuer will be joined by a triple tranche trade from the Japan Bank for International Cooperation. -
Nomura has unveiled a big redundancy round in its EMEA global markets operation, with more than 50 front office staff at risk. The move comes as volumes in European fixed income disappoint once again, setting banks up for a rough set of second quarter numbers.
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Nomura has placed at least 50 employees in EMEA global markets at risk, GlobalCapital understands.
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There was a smattering of sterling deals from public sector borrowers this week, as the biggest issuer in the currency — the UK Debt Management Office — provided details for its next syndication.
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Other than balance sheets, all banks have to offer is their people. And this week, Nomura made an unusually large statement, hiring three of them at once to bulk up its EMEA rates business.
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Nomura has hired a three person team from the NatWest Markets rates operation, GlobalCapital understands. James Konrad, who ran the desk, as well as Biagio Lapolla and Robbie Anderson, in flow rates sales and trading, will be joining the Japanese bank.
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The Securities and Exchange Board of India has put the IPO plans of real estate company Lodha Developers on hold while it examines "past violations".
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Quantitative easing, perhaps the single most important factor affecting bond prices over the past three years, could be coming to a long awaited end this year. Members of the European Central Bank governing council seemed to hint as much this week, causing govvie spreads to gap wider, writes Lewis McLellan.
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KfW opened the door for dollar issuers after a quiet few weeks in the currency, although the issuer — and SFIL, which followed it — had to navigate some price discovery after last week’s Italy-led volatility.
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SFIL followed KfW into a reopened dollar market this week with only its second ever dollar benchmark, while engaging in a bit of price discovery that leads said was “spot on”.
