Syndicate

A 24-hour global presence with that vital window to the East

Nomura's Syndicate team has two main product areas, Equity and Fixed Income.  With the international core in London, but working in parallel and close co-operation with our colleagues in Tokyo, we also have a team in Hong Kong.

Exceptional execution
Our aim is to provide state of the art and exceptional execution in those product areas in which we specialise, offering investors attractive securities that match their demand preferences while achieving cost efficient and rapid distribution for borrowing clients.

Equity Syndicate is the market leader in arranging the international sponsorship and distribution of Japanese common stock and convertible debt. We have a growing franchise in non-Japanese Asian transactions and overall rank second in Europe and third worldwide in the arrangement of convertible debt.

Pathbreaking solutions
In early 2005 working with our Equity Capital Markets and Tokyo colleagues, we organised the pathbreaking KFW exchangeable offering into shares of Deutsche Post.  We placed €1.1bn exclusively into Nomura's retail network in Japan. The deal was exceptional in that its volume and pricing were materially superior to the terms available in Europe at a time of hedge fund retrenchment, and the deal was placed entirely with cash buyers.

Leading positions
Fixed Income Syndicate focuses on a number of business areas:

• Nomura has for an extended period been the Number 1 underwriter of Yen securities worldwide
• We have developed a pre-eminent position in distributing public sector and covered bond securities denominated in US$, benefiting from the key contribution from Asian, Japanese and Middle Eastern investors in this sector
• We have been at the forefront of marketing the Euro as a global investment currency to investors in Asian and Japan, complementing this with strong penetration of the European markets
• We have acted as a regular lead sponsor and underwriter for many financial institutions, opening lines and distributing securities into Asia as well as to their traditional investor base. These transactions have ranged from small private placements of regulatory capital secrities to large FRNs.
• Nomura has established itself as a market leader in structured public sector debt.
• We have a rapidly growing MTN franchise, which was recognised as an industry leader in the 2004 MTN-i awards. Starting from our Japanese base a few years ago, we are now strong in complex structured notes, and pride ourselves on our capacity for state of the art product innovation and financial modelling. At the same time we are now in the top 6 in HK$ and Singapore $, and a growing force in A$ MTNs.
• We operate a niche strategy in Asset Finance, where the firm has a strong reputation as a direct investor. Where relevant, Syndicate distributes such assets in repackaged format to the international capital markets (as an alternative to loan markets).

Unique insights
We offer clients accurate and forthright guidance on global cash flow within G3 markets, and can serve as a unique source of insight to both Japan and the other Far Eastern markets.