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Sunday, 15 July 2018

Takahiro Okamoto' s stories

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  • GPIF reveals racy credit investments

    Japan's GPIF reveals racy credit bets

    People & Markets | 13 July 2018

    Japan’s biggest pension fund channelled more money into riskier credit investments during the last fiscal year, adding exposure to Venezuela, Iraq and casino operators while cutting back on US Treasuries and yen bonds.

  • National Australia Bank (NAB) logo

    NAB raises over ¥100bn through two-part Samurai bond

    Ticker | 12 July 2018

    National Australia Bank returned to the Samurai market for the first time since January 2017 to raise ¥104.9bn (US$934m) from a dual-tranche five and 10-year bond, hot on the heels of a five-year deal from Aussie peer Westpac in late June.

  • Kexim raises the Samurai standard

    People & Markets | 06 July 2018

    Export-Import Bank of Korea chairman and president Sung-soo Eun said the export credit agency’s latest Samurai issue was not just for its own funding needs but to pave the way for other South Korean issuers to follow, stressing the double role Kexim has as the nation’s leading international borrower.

  • MUMSS dropped from bond deals

    People & Markets | 06 July 2018

    Mitsubishi UFJ Morgan Stanley Securities has been dropped from several bond deals in Japan, days after regulators recommended that it be fined for alleged manipulation of government bond futures.

  • A man dressed as samurai warrior takes part in a ceremony for the new year's first practice of budo (Japanese martial arts) in Tokyo.

    Investors snap up APAC Samurai supply

    Bonds | 29 June 2018

    Japanese bond buyers welcomed the chance to diversify their portfolios last week as rare issuers KT Corp and Westpac Banking Group added to the rebound in Samurai bond sales.

  • Renault

    Renault prices two-part Samurai amid trade tensions

    Ticker | 26 June 2018

    Renault raised ¥57.4bn (US$524m) from a dual-tranche Samurai issue amid trade tensions between the US and Europe.

  • Eun Sung-soo, Chairman of the Board of Directors and Chief Executive Officer of Korea Investment Corporation, attends the Asian Financial Forum in Hong Kong, China.

    Kexim sets Samurai record

    Top News | 22 June 2018

    Export-Import Bank of Korea last Thursday raised an impressive ¥120bn (US$1.08bn) from the biggest Samurai bond issue ever from Asia ex-Australia, making the most of the positive momentum following the historic summit between the US and North Korea.

  • The Philippine national flag is raised during celebrations for the 116th death anniversary of Philippine national hero Jose Rizal at the Rizal Park in Manila.

    Philippines to meet Japanese investors this month

    Ticker | 07 June 2018

    Officials from the Republic of the Philippines will meet Japanese investors in Tokyo this month, as the sovereign plans to sell yen and US dollar bonds, according to two sources.

  • Man walks by advertisement for Corning Gorilla Glass 3

    Corning draws new buyers for second yen Global

    Ticker | 31 May 2018

    US specialty glass manufacturer Corning, rated Baa1/BBB+ (Moody’s/S&P), returned to the yen market after less than one year, cultivating its investor base with a ¥65.5bn (US$603m) three-tranche Global bond deal.

  • Logo of Japan's Uniqlo clothing outlets

    Fast Retailing raises ¥250bn in biggest yen bond this year

    Ticker | 30 May 2018

    Fast Retailing, the owner of Japanese fashion brand Uniqlo, raised ¥250bn (US$2.3bn) in the domestic bond market on Wednesday at maturities of five, seven, 10 and 20 years.

  • Abe waves to children with Indonesian and Japanese flags at the Bogor Palace

    Yen market stays open for Indonesia

    Top News | 25 May 2018

    The Republic of Indonesia priced a ¥100bn (US$911m) multi-tranche Samurai bond issue last week, highlighting the Japanese debt market’s value as a stable funding source amid emerging market jitters.

  • A pedestrian passes the head office of Lloyds Banking Group in central London

    Demand from Japanese regional investors lifts Lloyds Samurai

    Ticker | 24 May 2018

    Lloyds Banking Group returned to the Samurai market with a bang on Thursday, raising a massive ¥169bn (US$1.54bn) from multi-tranche loss-absorbing-capacity bonds amid growing demand from Japanese regional investors.

  • A signboard for a Japan Post Bank Co ATM machine is pictured in Tokyo, Japan.

    Japan Post Bank to diversify holdings

    People & Markets | 18 May 2018

    Japan Post Bank, one of the country’s biggest institutional investors, with ¥207.7trn (US$1.89trn) under management, is to increase its allocation to credit and alternative investments in a bid to improve returns.

  • Indonesia files shelf registration for Samurai

    Indonesia files shelf registration for Samurai

    Ticker | 15 May 2018

    The Republic of Indonesia has filed a shelf registration to issue up to ¥600bn (US$5.5bn) of Samurai bonds within two years.

  • Vulnerable Indonesia hopes for Samurai return

    Emerging Markets | 11 May 2018

    The Republic of Indonesia has conducted meetings in April ahead of a possible return to the Samurai bond market, two sources said, just as global investors have cooled on Indonesian bonds in other currencies.

  • Japan US$1.5trn fund move set to shake up bond market

    People & Markets | 11 May 2018

    GPIF, Japan’s biggest pension fund, with over ¥162trn (US$1.47trn) under management, has opened the door to junk-rated domestic bond investments, in a move that is expected to broaden the Japanese debt capital market.

  • Ghana 'on course' for yen debut

    Ghana 'on course' for yen debut

    Top News | 13 April 2018

    Ghana is on track to issue its first yen bond as it looks to broaden the investor base for its debt, Finance Minister Ken Ofori-Atta said on Friday.

  • Ghana plans bonds in H2

    Ghana 'on course' for yen debut

    Ticker | 13 April 2018

    Ghana is on track to issue its first yen bond as it looks to broaden the investor base for its debt, Finance Minister Ken Ofori-Atta said on Friday.

  • KKR logo

    KKR looking to be repeat yen issuer

    Ticker | 28 March 2018

    KKR plans to issue yen-denominated bonds once or twice a year to fund its operations and enhance its name recognition in Japan, especially among regional investors.

  • CEO of Kohlberg Kravis Roberts & Co (KKR) Henry Kravis (C) departs after breakfast in the Manhattan borough of New York.

    KKR adds to Japan push with yen debut

    Bonds | 16 March 2018

    Private equity giant KKR made its debut in the yen bond market last week with a ¥40.3bn (US$380m) Global bond issue to raise funds for its deal-making in Japan.

  • BNPP, Intesa reopen yen market

    Bonds | 23 February 2018

    BNP Paribas and Intesa Sanpaolo ended a month-long drought in the yen market last week with a pair of bond issues that tapped into strong demand for overseas and lower-rated credits.

  • Hulic logo

    Hulic issues hybrids

    Ticker | 22 January 2018

    Japanese real estate firm Hulic on January 19 issued ¥50bn (US$451m) of 35-year non-call 5-year subordinated bonds, its first issue of such bonds and only the eighth sale of hybrids by a non-financial company in Japan.

  • People enter the BPCE bank headquarters in Paris, France.

    Tight Samurai reward for BPCE

    Bonds | 19 January 2018

    BPCE left nothing to chance in its quest for tight pricing on Japan’s first Samurai issue of 2018, a dual-tranche offering of senior preferred and senior non-preferred bonds.

  • BPCE

    BPCE Samurai well received despite tighter spreads

    Ticker | 18 January 2018

    French bank BPCE has opened Japan’s Samurai market for 2018 with a ¥100bn-plus dual offering of senior preferred and senior non-preferred bonds.

  • Men stand in front of a screen displaying the Dollar to Yen exchange rate in Tokyo, Japan.

    Yen market seen diversifying

    Bonds | 15 December 2017

    Bankers expect a more diverse range of issuers to sell yen bonds in 2018 as Japanese investors move down the credit curve in search of higher returns.

  • Yen Bond House: Morgan Stanley

    Yen Bond House: Morgan Stanley

    All Special Reports | 15 December 2017

    In a market still struggling under the effects of Japan’s negative interest rates, one bank used its global network to deliver for both issuers and investors. For its leading role in international yen issuance, Morgan Stanley is IFR’s Yen Bond House of the Year.

  • Yen Bond: BPCE’s ¥142.7bn triple-tranche Samurai

    All Special Reports | 15 December 2017

    Senior success

  • Lloyds Banking Group head office

    Lloyds Banking prices ¥45.5bn dual-tranche Samurai

    Ticker | 07 December 2017

    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.

  • Turkey takes short route to Japan

    Emerging Markets | 01 December 2017

    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.

  • A Turkish flag is pictured on a boat with the Bosphorus bridge in the background

    Turkey takes the short route into Japan

    Ticker | 01 December 2017

    The Republic of Turkey raised ¥60bn (US$533m) through a private placement of Samurai bonds that it managed to execute successfully despite volatile market conditions at home and no guarantee from the Japan Bank for International Cooperation.

  • Turkey to test Japanese appetite

    Emerging Markets | 24 November 2017

    The Republic of Turkey is set to return to the Samurai market for the first time since 2014, in a test of Japanese investor appetite for emerging-market credits.

  • Aflac serves generous spread

    Aflac serves generous spread

    Bonds | 20 October 2017

    US insurer Aflac last week paid its second visit of the year to the yen market, this time for an offering of hybrid Global yen bonds – a first from a foreign life insurer.

  • Swap costs shrink Samurai market

    Swap costs shrink Samurai market

    Bonds | 06 October 2017

    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.

  • BFCM issues its largest Samurai

    Bonds | 06 October 2017

    Banque Federative du Credit Mutuel sold ¥127.1bn (US$1.13bn) of Samurai bonds last week, its largest issue since its market debut in July 2011.

  • Pot system catches on in Japan

    Top News | 18 August 2017

    Japan’s growing appetite for overseas bonds is raising a debate over the role of global DCM practices in the yen markets.

  • Man walks by advertisement for Corning Gorilla Glass 3

    Yen market welcomes Triple B Corning

    Top News | 04 August 2017

    Corning, rated Baa1/BBB+ (Moody’s/S&P), raised ¥78bn (US$708m) on Friday from its first yen bond issue, opening the door for other Triple B multinationals to fund their Japanese operations.

  • Samurai

    Basis swaps raise Samurai tide

    Top News | 30 June 2017

    The recent improvement in cross-currency basis swaps is benefiting both yen issuers and investors as foreign borrowers are able to offer relatively juicy spreads while still matching their funding costs in their home currencies.

  • BPCE

    BPCE looking to issue retail Samurai

    Ticker | 30 June 2017

    BPCE has filed an amended shelf registration ahead of a potential retail offering of five-year senior non-preferred Samurai bonds.

  • BPCE gives Samurais a Social twist

    Bonds | 23 June 2017

    BPCE last week became the first foreign bank to sell Social bonds in the Samurai market.

  • Basis swaps pave way for Samurais

    Bonds | 16 June 2017

    Dollar/yen basis swaps have tightened rapidly in recent weeks, providing encouragement for prospective Samurai issuers.

  • Asahi completes jumbo yen deal for M&A

    Ticker | 07 June 2017

    Asahi Group Holdings raised ¥280bn (US$2.56bn) in a four-tranche bond transaction, with the proceeds to be used for the acquisition of breweries in five Central and Eastern European countries.

  • Abe waves to children with Indonesian and Japanese flags at the Bogor Palace

    Indonesia brings first public Samurai since 1983

    Top News | 02 June 2017

    The Republic of Indonesia last week priced its first public Samurai bond issue in more than 30 years, raising ¥100bn (US$896m) in a popular three-tranche offering.

  • Passers-by walk in front of a branch of French bank Credit Agricole in Marseille

    Credit Agricole sets Samurai record for European financial

    Ticker | 02 June 2017

    Credit Agricole raised ¥203.9bn (US$1.8bn) from the Samurai market with an issue of two-tranche senior non-preferred notes and three-tranche senior preferred bonds.

  • Societe Generale reopens Samurai market

    Bonds | 19 May 2017

    The new issue drought in the Samurai market came to an end last week, as Societe Generale sold senior non-preferred bonds and more foreign issuers lined up yen financings.

  • Societe Generale headquarters

    Societe Generale reopens Samurai market

    Ticker | 19 May 2017

    The new issue drought in the Samurai market came to an end this week, as Societe Generale sold senior non-preferred bonds and more foreign issuers lined up yen financings.

  • Swaps herald more yen issuance

    Bonds | 31 March 2017

    A substantial tightening of Japanese yen/US dollar basis swaps since late January has led some bankers to expect international debt issuance in yen in the near future.

  • European politics trump Asian demand

    Bonds | 24 March 2017

    Japanese investors, who were big net buyers of French sovereign bonds for most of 2016, have been reducing their positions since November, contributing to a dip in Asian allocations on recent SSA offerings.

  • Japanese lifers diversify credit holdings

    Bonds | 17 March 2017

    Two major Japanese life insurers, Meiji Yasuda Life and Nippon Life, have unveiled plans to diversify their credit investments, with a special focus on socially responsible debt, in a move that bankers say could expand global appetite for yen products.

  • Starbucks feeds the yen for SRI

    Starbucks feeds the yen for SRI

    Top News | 10 March 2017

    Starbucks answered Japan’s growing demand for socially responsible investing last week when it chose to launch the country’s first sustainability notes in its maiden international bond offering.

  • BNP Samurai defies French fears

    Bonds | 24 February 2017

    BNP Paribas rose above French political worries to raise funds in the Samurai market last week. The bank priced ¥50.6bn (US$448m) of two-tranche senior non-preferred Samurai bonds on February 23 through joint lead managers BNP Paribas, Daiwa, Mitsubishi UFJ Morgan Stanley,

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