Takahiro Okamoto is an analyst for IFR Markets, IFR’s real-time market commentary service, and reporter for International Financing Review based in Tokyo. Takahiro has worked for Thomson Reuters since 2000 initially covering the Japanese money market, then yen interest rate swaps, swaptions, and JGBs. From 2011 to 2016, he contributed yen swap commentary on a daily basis to DealWatch, Thomson Reuters’ Japanese language publication, and Reuters News. In 2016, he started covering the international yen debt capital market including Samurai.
Lloyds Banking Group has priced ¥37.8bn (US$337m) six-year Samurai notes at a spread of 30bp over yen offer-side swaps and ¥7.7bn 10-year notes at 41bp over.
The Republic of Turkey raised ¥60bn (US$533m) on Friday through a private placement of three-year Samurai bonds after strong demand allowed it to drop plans for a Japan Bank for International Cooperation guarantee.
Japan’s Samurai bond market has shrunk by ¥490bn (US$4.3bn) so far this year as overseas issuers have turned to other markets for refinancing.