Turkey to Issue Samurai Securities in Tokyo

Tokyo, Dec. 6 (Jiji Press)--The Turkish government is set to issue "samurai" yen-denominated notes totaling 60 billion yen in the Tokyo market on Thursday, informed sources said Wednesday. This will be the first time for Ankara to place samurai securities since a coup attempt in July last year. The planned notes will carry a coupon of 1.81 pct, the sources said, adding some of them will be undertaken by the Japan Bank for International Cooperation. In the four years through 2014, the Turkish government procured a total of 370 billion yen by placing samurai securities three times after obtaining the JBIC's principal guarantee. This time, the Turkish government can issue the junk-rated notes without the guarantee by the Japanese government affiliate as institutional investors are actively investing in higher-yielding foreign bonds amid an extremely low interest rate environment in Japan, the sources said. END