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The pre-IPO convertible for Banco Mare Nostrum was just one of a quartet of high-profile bank capital deals for Nomura since the beginning of November -- allowing the firm an opportunity to restate its investment banking and equity capital markets ambitions in Europe after reporting a Yen 46.1bn ($591m) loss in the second quarter.
It is a bookrunner for the [Euro]800m rights issue of Banco Popolare di Milano, a manager of the [Euro]800m debt-for-equity exchange for Espirito Santo Financial Group and a lead manager of Rabobank's recent $2bn CRD IV compliant hybrid.
"We are not a bank that leads with commercial lending to large clients but we use our balance sheet to underwrite risk and enable capital markets transactions for our clients -- we take and distribute risk," said Philippe Dufournier, head of global finance at Nomura in London. "Do we feel that we have the financial resources and the appetite to be out there facilitating clients' access to difficult markets? Absolutely."
He said that the bank's rise up the ECM league table, beginning in September 2010 with a bookrunner mandate for...