Reported about 1 month ago
Sumitomo Chemical Co. has successfully sold ¥100 billion ($700 million) in hybrid debt at a spread of 280 basis points over Japanese government bonds, marking the widest spread for yen corporate hybrid debt this year. This move comes in light of increased interest rates and the company's recovery from a significant loss last fiscal year, highlighting a growing appetite in Japan's credit market as underwriting demand outpaced the bond's issuance.
Source: YAHOO