Canada turns to Samurai bonds

04/22/2008 | Bloomberg

Royal Bank of Canada turned to Japanese investors for the first time, joining a line of foreign companies searching for funding after U.S. and European credit markets raised borrowing costs. RBC's sale of 146.3 billion yen in bonds brings debt issuance in Japan this year by overseas companies to more than 1 trillion yen, a four-fold increase over last year. Falling yields for government bonds in Japan have boosted demand for company debt from investors seeking higher returns.

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