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Headline: Borrowing begins at home Source: Euromoney Date: June 2001 Author: Jonathan Brown With the domestic economy still in a weak state, Japanese corporates are reluctant to go to the relatively expensive international bond markets for funding. Domestic borrowing is cheaper, particularly as banks are being encouraged by the government to lend on easy terms despite the hangover of bad debt. Only the highest rated Japanese borrowers are raising funds in international markets. After something of a rush in 2000, the flow of Japanese issuers raising money in international markets looks to have tailed off in 2001, with little prospect that activity will significantly pick up in the near future. |
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