Pohjola ready to pounce on Samurai opportunity
Pohjola Bank could soon sell its debut Samurai bond, its head of group funding told EuroWeek Bank Finance this week. The Finnish bank revealed its intention to enter the Samurai market late last year but an unfavourable euro/yen cross-currency basis swap has so far thwarted any attempts at issuance. But there are now signs of an improvement in the rate.
We are waiting for a good window to sell a Samurai bond, said Lauri Lloniemi, head of group funding at Pohjola.
At the end of last year the basis swap was pretty bad but since the start of this year its been going in the right direction. A Samurai
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