The lender to Japanese farmers that once dominated the ¥136 trillion ($1 trillion) collateralized loan obligation market has set its sights on a European transaction that would seal its global comeback.

Norinchukin Bank is buying the bonds of a CLO from the region that will be issued and managed by Investcorp, according to people familiar with the matter who aren’t authorized to speak publicly.

The Japanese lender will be the anchor investor for the AAA bonds, the safest and biggest portion of debt that’s created by repacking leveraged loans, the people said.