Return to Japan

Return to Japan


In spite of strong cultural ties, it had been years since a Brazilian company tapped the yen market for debt financing. That is until September, when a unit of Brazilian oil company Petrobras placed 35 billion yen ($300 million) in Japan through a 10-year bullet bond. The guaranteed deal is seen as a likely first step to re-opening the Japanese markets to Brazilian credits. Petrobras International Finance Company (PIFCo) is the first major Brazilian issuer to come to Japan since 2001, when the market tightened amid concerns over Brazilian politics. Petrobras itself hadn't issued in Japan since 1997. Nomura Securities and Mitsubishi UFJ Securities led the deal. "The Japanese market seems mo

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