Barclays Joins BNP, HSBC in Flurry of Yen Bank Bond Deals
- Samurai bond sales in FY2018 running at highest since 2008
- European banks selling TLAC notes amid strong Japanese demand
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Barclays Plc became the latest European bank to kick off a yen bond deal on Tuesday after HSBC Holdings Plc and BNP Paribas SA tapped yen investors in the past month for low-cost funding.
Barclays began marketing the Japanese currency notes on Tuesday, in its first Samurai offering since 2015. The debt may be tapped by regulators to avoid taxpayer bailouts of big financial institutions. HSBC sold 160 billion yen ($1.44 billion) in yen bonds earlier this month that may count toward total loss-absorbing capacity, or TLAC, buffer requirements, which were introduced after the global financial crisis.