Companies in Japan are rushing to sell dollar bonds, marking one of the biggest increases in issuance this year among major economies as investors brace for diverging monetary policy.
Targeting a larger investor base away from the home market, Kyushu Electric Power became the latest Japanese issuer to sell dollar bonds last week, joining borrowers such as Meiji Yasuda Life Insurance and Marubeni in September.
Japanese firms’ issuance of U.S. currency debt has surged 60% so far in the fiscal year that started in April to a three-year high of $32.6 billion, according to data compiled by Bloomberg. That’s a faster pace of increase than other major issuing countries including Germany, the United Kingdom and Canada.
Japan firms rush past global peers in hunt for dollar funds