The lender to Japanese farmers that once dominated the $1 trillion (¥127 trillion) universe of collateralized loan obligations is seeking transactions in Europe that would set the seal on its global comeback.

Norinchukin Bank is in active discussions with managers of European CLOs to put money into the structured products that bundle up leveraged loans into bonds of varying degrees of risk, according to people familiar with the matter who aren’t authorized to speak publicly. The lender, often called Nochu, exited the market in 2019.

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