Tuesday July 10, 2012
Nomura loses more bond deals
TOKYO: Japan's leading brokerage Nomura Holdings was excluded as underwriter from two bond issues planned by a government-owned housing agency as an insider trading scandal takes an increasing toll on its business.
The Japan Housing Finance Agency said yesterday that it had decided not to employ Nomura as underwriter on its planned issue of a 30-year straight bond and a mortgage-backed security. The size of those issues and other details have not been disclosed.
While the housing loan agency did not give a specific reason for its decision, other issuers have dropped Nomura as underwriter in recent weeks due to its role in a series of insider trading cases. Reuters