Ninja loans set for rebound

摘要

Japan's Ninja loan market is poised for a rebound as tightening cross-currency swaps and pent-up demand for higher-yielding assets open a window for international borrowers. Ninja loans, the name given to syndicated financings for overseas borrowers in Japan, fell by 24% year-on-year to US$8.3bn in 2016 after the advent of negative Japanese interest rates sent US dollar-yen basis swaps to their widest on record.