Japan CBs on the up as two new issues hit market

08 Mar 2012

Aeon Credit Service and Fukuyama Transporting Co both turned to the Japanese convertible bond market on Tuesday night, as issuers increasingly look to take advantage of a recent equity rally in the country.

“Japanese convertibles work for investors and issuers at the moment,” said an equity-linked banker close to one of the deals. “The recent rally in Japan equities means that issuers will not be selling equity too cheaply, or too quickly. But the country’s continuing upside prospects mean it makes ...

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