Publishing date: May 26, 2021 • 4 days ago • 2 minute read •
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TOKYO/HONG KONG Japan Inc has issued a record amount of foreign currency denominated debt this year, outweighing its traditional tide of yen bonds, as companies race to take advantage of high demand from investors for Asian commercial debt.
The value of U.S. dollar bonds issued since the start of 2021 has hit a record $35 billion, up from just $9.8 billion for the same period last year, data from Dealogic showed. There was $41.3 billion worth of dollar debt issued in 2020.
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By Morgan Davis
04.15 PM
The Japanese bond market had a blow-out year in 2020, despite the ongoing pandemic and related volatility. With 2021 already characterised by eager borrowers and large acquisition financing activity, DCM bankers are preparing for another record setting year. Morgan Davis reports.
The past year has been a volatile one for capital markets around the world. Businesses in Japan were battered and many permanently closed. The country was forced to postpone its 2020 Olympics, and uncertainty remains around how safe it is for the event to be held this summer, as planned. Since the start of 2020, Japan has reported more than 500,000 cases of Covid-19, resulting in around 9,400 deaths.