Nomura International's European securitization effort will roll out its first European public collateralized debt obligations and real estate securitizations in the coming months. Stefano Ghersi, head of international capital markets, fixed-income division in London, says Nomura will be executing deals for U.K. companies on both the CDO and real estate side later in the second quarter. He declined to name the issuers.
Ghersi says Nomura has done a number of private synthetic CDO deals to cultivate its investor base and now will be moving more into the public arena. He says Nomura will be launching a deal for a U.K. financial institution within the next three months. Nomura's European CDO effort is headed by Christian Marx.
Nomura will be coming to the market with a structured acquisition of real estate, says Ghersi. He expects the deal to launch in May. Nomura started its real estate effort last year when the firm hired Derek Vago and Gary Wilder from Credit Suisse First Boston. Going forward, Ghersi says Nomura will be targeting corporate, public sector and financial institution real estate securitizations.
Separately, Nomura will continue to work with the public sector by advising and structuring deals similar to the E650 million Sicilian healthcare receivables deal it completed earlier this year (BW, 1/27). The firm has also done a Malaysian CDO for Affin Bank as well as a few other Asian CDOs and structured finance deals. Nomura also completed an innovative CDO deal for insurer Lloyds of London last year.
Nomura is not going for flow business such as residential mortgage-backed securitizations and is not aiming to go for big league table numbers, but is concentrating on tailored deals. Ghersi says that part of Nomura's game plan is to become a debt advisor of choice to both public and private sector issuers.