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From Staff Reports
Deutsche Bank AG (NYSE:DB), Germany's largest bank, announced Friday the launch of an anticipated $1.27 billion "Samurai" bond issue in Japan.
The new bond issues consists of five-year fixed (2.3% rate) and floating-rate tranches and a 10-year fixed-rate (1.77%) tranche.
Deutsche Bank tapped into the capital markets with bonds and swap instruments for more than 4 billion euro in the second half of August to provide liquidity for off-balance-sheet financing conduits,
Samurai bonds are yen-dominated bonds offered to Japanese investors from non-Japanese companies. Bloomberg News reported that sales of yen-dominated Samurai bonds have more than doubled this year, notably because U.S. authorities said that investors wouldn't have to pay taxes of on the gains made on them.