Japanese buyers eyeing European corp debt
The MTN market is expecting a wave of corporate issuance in the coming weeks, as companies seek to tap all available sources of funding to shore up their resources to survive the coronavirus crisis. Investors are open to doing deals, particularly Japanese accounts eager to buy paper at the start of their new fiscal year, which begins this week.
The huge widening of credit spreads this month because of the crisis has made corporate paper particularly attractive to Japanese investors, which before tended to see it as not offering sufficient return.“Several accounts are looking at the market,” said an MTN banker in Paris. “Because spreads have ...
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