MUFJ Lease proves Japanese bid still strong
Mitsubishi UFJ Lease and Finance became only the second-ever Japanese borrower to sell dim sum bonds this week, when it issued a Rmb200m ($30.5m) deal. The bond drew a strong response from investors, showing that demand for Japanese credits has not wavered despite the earthquake that struck the country three weeks ago.
Morgan Stanley was the sole arranger of the three year deal, which was priced to yield 1.65%, at the tight end of guidance set between 1.65% and 1.75%.
It was the first Japanese deal to be marketed and launched after the earthquake, following deals from Orix Corp and
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