Credit Agricole Brings Back Floating Samurai Bonds After Decade

Credit Agricole SA is issuing floating-rate Samurai bonds for the first time in about a decade, as it draws strong demand from investors worried about rising Japanese government bond yields.

The French bank priced a seven-tranche Samurai bond deal totaling ¥85 billion ($591 million) including a five-year floating-rate tranche that raised ¥26.9 billion, exceeding the ¥16.3 billion offered in the five-year fixed-rate tranche.