Yen
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Amid global volatility, yen market offers challenging but viable funding diversification, especially to European banks
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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
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Lower participation from Japanese regional investors due to French bank's G-Sib status and pricing may have affected deal size
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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
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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.
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Onshore format brings pricing at least as good as dollars
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MUFG and SMTB lead way to dollars after Labor Day, while HSBC seeks funding in yen
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US insurer will use proceeds to partly refinance dollar debt maturing in two and three years
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Deutsche Bahn set off weekly Swedish krona issuance with 18 year private placement
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French bank reaps benefits of having strong following in the Japanese market
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Europe braces for next wave of window-driven senior FIG issuance
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UK issuer achieves competitive funding cost compared to dollars but yen market remains challenging for foreign issuers