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Updated · Bloomberg · May 29Credit Agricole Prices $670 Million Samurai Bonds at 58-Basis-Point 5-Year Spread
1 articles · Updated · Bloomberg · May 29
- ¥106.5 billion of Credit Agricole samurai bonds was priced across seven tranches on Friday, marking a $670 million-equivalent yen deal.
- The bank offered wider spreads than comparable domestic corporate debt as rising benchmark yen rates pushed up funding costs in the market.
- The five-year tranche came at 58 basis points over the TONA mid-swap rate, with a 2.454% coupon.
- The sale shows overseas borrowers still tapping Japan's samurai market even as higher yen rates force more generous pricing.
With Japanese investors now selling foreign debt, how will this massive capital shift reshape global bond markets? As Japanese capital returns home, are foreign bond issuers facing a crisis or a historic funding opportunity?