insto - Australian financial markets

Nomura has continued its ambitious pronouncements, with the bank’s new head of global banking, Jesse Bhattal, identifying Australia as a key market as the Japanese firm looks to build a global investment banking business. Bhattal told the Australian newspaper Australia “has to be one of the most important markets, not just in the Asian region but globally.”“If you look at the fee pools in the region, the lion’s share is in Australia.

Queensland coal explorer Endocoal hopes to raise $17 million in an IPO to explore for coal in the Bowen Basin region. The company has 10 tenements covered 5000 square kilometres.

 PE Alert – 18 February 2010

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Asian financial sponsors interested in Loscam; reported on 15/02/2010
Aside from private equity heavy weights Kohlberg Kravis Roberts & Co and Carlyle Group Loscam is attracting the attention for Loscam Asian financial sponsors,. Credit Suisse and Deutsche Bank are believed to be advising the vendors Affinity Equity Partners on the dual track process.

The week started from two significant euro bonds from Telstra and CBA, and ended with four new ABS transactions from Bankwest, BEN, Colonial, and Macquarie. NZ’s Southland Building Society also added two new RMBS tranches.

Moody’s Investor Services issued three downgrades on Friday. The rating for United Energy Distribution (UED) was lowered to Baa2 from Baa1, and in a separate action, DBNGP Finance (DBNGP) and Energy Partnership were cut to Baa3 from Baa2. As a result, around A$2.8 billion in debt securities were affected.

The agency said it previously recognised the weak financial profiles of electricity distributor UED and gas distributor EPG, while the downgrade in Perth based DBNGP’s rating reflects the lack of cushion in its credit metrics.

Australia’s export credit agency EFIC raised JPY500 million in a structured private placement trade on Monday.

Details are:

Issuer: Export Finance &Insurance Corporation
Amount: JPY500m
Facility: Non-Call 16 months Constant Maturity Swap Linked Note

Launch Date: 15 March 2010
Pricing Date: 15 March 2010
Settlement Date: 25 March 2010
Maturity Date: 12 January 2028

Coupon: 2pct (For the first 10 months before switching to a semi-annual CMS Linked structured coupon).
• The proceeds were swapped to floating rate USD at a sub 3-month LIBOR margin.