BPCE raises $700m in Japan as yen market keeps ‘maturing’

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By Tyler Davies
05 Dec 2019

Groupe BPCE benefited from a bookbuilding process that was shorter than usual on a visit to the Samurai bond market this week, raising about $670m equivalent of preferred and non-preferred senior debt.

The French lender, which has the largest volume of Samurai bonds outstanding of any issuer, priced four tranches of debt in yen on Thursday.

Its largest bond was a ¥46.5bn ($427.8m) five year non-preferred senior note, which was sold at a spread of 47bp over yen offer swaps.

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