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Derivatives

Bear Stearns Plans Samurai Debut, FX Swap May Follow ...

Bear Stearns plans to issue its first Samurai bond in the coming weeks and will likely convert the proceeds into dollars via the fx swaps market.

Bear Stearns plans to issue its first Samurai bond in the coming weeks and will likely convert the proceeds into dollars via the fx swaps market. The deal is likely to be up to JPY25 billion (USD237 million), according to market officials. John Knight, spokesman in London, did not return calls.

The firm is issuing its first yen-denominated bond because it wants to diversify its funding, according to an official.

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