Nidec makes it Japanese double for euros

By Nigel Owen
20 Sep 2018

Japanese issuers are rarely seen in the European corporate bond markets, but electric motor manufacturer Nidec made it two Japanese corporate bond sales in two days, following Japan Tobacco’s multi-tranche deal on Wednesday.

Japan Tobacco had all bases covered when it sold benchmark tranches in dollars, euros and sterling at the same time. The diversification on offer clearly appealed to European investors however as the €550m tranche was more than five times covered.

Nidec offered investors a much smaller deal, ...

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