Japanese corporate issuers are rekindling some shelved yen bond deals in a sign of pressing funding needs even as investors seek fatter premiums.
Suntory, one of a slew of firms that canceled or delayed deals in April due to sharp market fluctuations, is considering resuming the sale in May. Another beverage group, Asahi, sold yen bonds on Friday in an offering that was postponed at the start of the month.
Companies paid about 60 basis points more than Japanese sovereign debt on average this month for new issuance, data showed. That’s near the highest since June, highlighting how it’s become harder for borrowers and buyers to agree on prices. As well as the pulled deals, borrowers failed to sell out bonds in the usually stable local government debt market.
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