Yen

Bank of Nova Scotia deal on Monday would have been tough to execute a day later

¥33bn note is the first non-US or Canadian dollar tier two deal in five years

French bank continues to diversify in yen and has almost ¥1.2tr outstanding in the currency

Berkshire Hathaway and another bank issuer join issuance wave

Amid global volatility, yen market offers challenging but viable funding diversification, especially to European banks

Echoes of a Lehman moment prompt more banks to look towards alternative funding in yen. But while the Japanese market remains stable, accessing it is not as easy as it seems

Lower participation from Japanese regional investors due to French bank's G-Sib status and pricing may have affected deal size

Offering more stable funding conditions than other global markets, Japan will host the new French deal in addition to several other yen bonds from foreign issuers

Samurai bonds have had a strong year so far as international issuers flock to the Japanese yen market for its relative stability and diversification option. The outlook is positive too — but borrowers will have to contend with increasingly cautious investors, writes Manju Dalal.

Onshore format brings pricing at least as good as dollars

MUFG and SMTB lead way to dollars after Labor Day, while HSBC seeks funding in yen

US insurer will use proceeds to partly refinance dollar debt maturing in two and three years