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Japan’s Regional Banks Sell More Senior Bonds as Rates Rise

Japan’s Regional Banks Sell More Senior Bonds as Rates Rise
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Japan’s Regional Banks Sell More Senior Bonds as Rates Rise Japan’s regional banks are selling more senior bonds as the Bank of Japan’s latest interest-rate increase intensifies competition for deposits. Yokohama Financial Group Inc., Japan’s biggest regional banking group, on Thursday priced its inaugural bond. It sold ¥12 billion ($74.2 million) of three-year notes at a spread of 27 basis points over Japanese government bonds.

Japan’s Regional Banks Sell More Senior Bonds as Rates Rise Japan’s regional banks are selling more senior bonds as the Bank of Japan’s latest interest-rate increase intensifies competition for deposits. Yokohama Financial Group Inc., Japan’s biggest regional banking group, on Thursday priced its inaugural bond. It sold ¥12 billion ($74.2 million) of three-year notes at a spread of 27 basis points over Japanese government bonds. Shiga Bank Ltd. and Shizuoka Financial Group Inc. are likely to follow in July with debut offerings of ¥20 billion and ¥60 billion respectively.
Japan (LOCATION) the Bank of Japan’s (ORG) Yokohama Financial Group Inc. (ORG) Japanese (ORG) Shiga Bank Ltd. (ORG) Shizuoka Financial Group Inc. (ORG)
Originally published by Bloomberg Technology Read original →