Japanese lenders are showing greater interest in loans for overseas borrowers as they search for yield in a negative interest rate environment. Singapore-listed OLAM INTERNATIONAL has emerged as the latest entity hoping to benefit from Japan's yield hunt, with a debut Samurai loan in the works. The agri-business company is seeking a ¥15bn (US$135m) three-year, new-money financing with Mizuho Bank and MUFG as lead arrangers. The financing, launched in April, pays an interest margin of 45bp over Libor and is far richer than some of the loans that onshore Japanese banks could get their hands on.
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