JPM Samurai squeezed tight
JP Morgan’s self-led five year Samurai deal has tighter guidance on Thursday, at 25bp-27bp over offer side yen swaps. Market reports suggest the issue will be at least ¥50bn in size, as the bank takes advantage of a long absence from the market and a lack of US supply.
JPM is a very strong bank, and this looks like a pretty punchy level, said a banker from a Japanese bank away from the deal. Its a much easier sell than a Bank of America or a Citi issue.
The level is one of the tightest Samurai issues in
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