China cuts swathe through Samurai market

With a little help from its friends, China has re-stormed the Samurai market with an important and successful strategic deal.

The People's Republic of China has set a new sovereign benchmark in the Samurai market with its first deal in almost five years. Capped at an issue size of Y30 billion $284 million, the five year deal was heavily subscribed thanks to strong international support from China-related accounts.

In a pattern repeatedly witnessed in the PRC's dollar transactions, Mainland money often proves the vital prop that enables the government to secure tight pricing relative to...

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