Samurai Bond Market Lures EDF With Busiest Start in Five Years
- EDF sold Samurai bonds Thursday, KAL also offering a note
- Diverging borrowing costs are boosting debt sales in Samurai
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Dovish Bank of Japan monetary policy is fueling the busiest start to issuance in Japan’s domestic bond market for overseas issuers in five years, with Electricite de France adding to an uptick in deals on Thursday.
The French electricity provider sold ¥33 billion ($232 million) of Samurai bonds, bringing issuance in the market to ¥450.6 billion since April 1, the start of Japan’s fiscal year. It was EDF’s first such offering since 2017 and is set to be followed Friday by a deal from Korean Air Lines Co.