Nomura
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Dar Al Arkan Real Estate Development Company has mandated eight banks to arrange a dollar benchmark five year sukuk. -
Nomura has appointed Yo Akatsuka as its new global investment banking head, amid an annual management re-shuffle, according to an announcement on Tuesday.
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Korea Development Bank found a very different response to its bond outing this week versus its last transaction in September, with investors eating up its $1bn fixed and floating rate combination deal.
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The SRI market is in full swing. Two borrowers are set to come to market on Tuesday, while a third is going on the road to promote its return to the format.
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Bank of China joined its Chinese peers to sell floating rate notes (FRNs) offshore, while Fantasia Holdings Group Co added to the momentum in the high beta property sector. The two finished off an incredible week for both financial and corporate borrowers from the Mainland.
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Sunday's Italian election is looming in the minds of those in the European SSA market. But despite the political risk posed, there is next to no volatility in evidence.
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The European Bank for Reconstruction and Development set a new pricing bar for 2018 in five year dollars on Wednesday as it equalled its largest ever dollar benchmark size. Municipality Finance was also out in the same tenor, with a trade that leads said had a concession of 2bp-3bp.
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FMS Wertmanagement on Tuesday took advantage of widening swap spreads to equal the tightest spread to mid-swaps on a five year benchmark so far this year — a level that was “very tight” to KfW, said bankers on the trade. Two other borrowers are lining up to try their luck in the tenor — including one that is aiming for an even tighter spread.
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Three public sector borrowers hit screens in euros on Tuesday, taking advantage of a hot market to offer zero or limited new issue premiums.
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The European Union’s upcoming April 2033 euro benchmark may have to offer a little more premium than usual if it wants to match a similar trade from the European Investment Bank last week and attract strong French demand, said bankers away from the mandate. Other euro supply in the pipe includes CPPIB Capital — also with a 2033 issue — and Rentenbank in sevens.
