Japanese investors are plowing back into the same types of risky U.S. corporate-loan investments that caused them losses during the 2008 financial crisis.

They’re pouring cash into loans to finance Burger King operator Restaurant Brands International Inc., hotel manager Hilton Worldwide Finance LLC and Caesars Entertainment Resort Properties LLC. They’re snapping up pools of the debt that have been sliced into pieces of varying risk and return, and converted into yen-denominated securities.

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