Nomura
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Bank Nederlandse Gemeenten this week capitalised on movements in short end dollar rates to print its largest trade in nearly two years. It was the solitary dollar benchmark this week, but with the Chinese New Year holidays out of the way and Asian investors back at their desks, bankers expect supply to pick up next week and for the very short end to still be the place to be.
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Nomura has created a new global unit to focus on client financing, in a move that combines its investment banking and markets capabilities.
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Bank Nederlandse Gemeenten on Wednesday sold its largest bond in nearly two years, as underlying rate dynamics allowed the issuer to offer a juicy spread over US Treasuries and an attractive yield to investors.
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Bank Nederlandse Gemeenten will reopen the dollar market for SSAs after a US public holiday on Monday — but is very much keeping to a trend set in the currency last week.
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SGG Group, the corporate and investor services firm based in Luxembourg and owned by Astorg, will fund its acquisition of UK peer First Names in the leveraged loan market, which has already enjoyed its busiest January ever in EMEA.
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Indian micro-finance lender Spandana Sphoorty Financial is in the process of mandating banks for a potential $150m IPO, according to a banker at a firm pitching for the deal.
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Despite heavy volatility in the equity markets, in fixed income, public sector bond issuers had an excellent week. A cool €10bn hit the market in tenors from five to 15 years and from all parts of the spectrum within the asset class. Lewis McLellan reports.
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The viability of short volatility strategies in derivatives markets was dealt a severe blow this week, after a historic spike in equity volatility torpedoed popular exchange traded notes. Costas Mourselas reports.
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Rates in Australian dollars are compelling compared to most currencies, which has aided long-end demand and allowed for a bumper outing by a supranational this week.