BFCM prints ‘largest ever Samurai’ on yen visit

Samurai Fotolia 230x150
By Frank Jackman
03 Oct 2019

Banque Fédérative du Crédit Mutuel returned for its annual visit to the yen market this week to sell its largest ever Samurai.

BFCM sold the ¥130bn ($1.21bn) Samurai across three tranches: a five, seven and 10 year.

The note was priced using a combination of the issuer’s euro and dollar curves due to the lack of liquidity in the yen market, as well as where local Japanese issuers are printing, ...

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