RBS issues inaugural Samurai bond

Royal Bank of Scotland raises $1.3 billion in the Japanese market after the initial offer is upsized.
Royal Bank of Scotland RBS has become the second UK bank to tap JapanÆs investor base, raising Ñ141 billion $1.3 billion on Tuesday. The only other UK bank to sell bonds in Japan was Barclays Bank, which raised Ñ50 billion through a Samurai deal in 2007. The RBS bond was lead managed by RBS in Tokyo and Daiwa Securities SMBC.

The deal will bring welcome liquidity from a new source to RBSÆs balance sheet, and raise the bankÆs profile in the region. ôSince 2005, RBS has launched a major push in the region, and Japan is considered a key part of that,ö says John Wade, RBSÆs joint head of syndicate Asia-Pacific in...
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