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#EconomyChina: confidence, price war and credibility are the watchwords in this early part of the year
2024/03/26
- 2013/06/21
- 3 min
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Crédit Agricole S.A. successfully launches an inaugural Samurai bond
Crédit Agricole S.A. has successfully launched an inaugural Samurai bond, raising JPY 65.3bn (equivalent to circa EUR 507m) and targeting the Japanese domestic investor base.
Samurai issues are domestic bonds issued in Japan by a foreign issuer. Denominated in Yen and governed under Japanese law, this product traditionally attracts a large array of Japanese domestic investors, ranging from large institutional accounts to smaller regional banks and institutions.
By establishing a Samurai platform, Crédit Agricole S.A. has successfully secured a new recurring source of medium to long term funding. This new issue comes as a result of a long and successful relationship established with the Japanese investor base: Crédit Agricole S.A. has, prior to this Samurai bond issue, conducted numerous visits to Tokyo and raised close to JPY 300 bn in EuroYen form since 2009 via its EMTN programme.
In a difficult environment, investors responded very positively to this offering, which comprises 5-tranches.
The issue is rated A2, A, A+ respectively by Moody’s, Standard & Poor’s and FitchRatings. Credit Agricole CIB, Nomura, Mitsubishi UFJ and SMBC Nikko acted as joint lead managers.