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Reuters Japan launches Japanese L oans pricing data in collaboration with 8 banks and securities companies
Tokyo, April 24, 2007 – Reuters Japan announced today that it has started to provide Japan’s Hypothetical Loans pricing data to meet the growing need for Japanese loans pricing information on Reuters 3000Xtra, Reuters flagship desktop product.
Contributions are provided by the following 8 major banks and securities companies:
1. Bank of Tokyo-Mitsubishi UFJ
2. BNP Paribas
3. Mizuho Corporate Bank
4. Mitsubishi UFJ Trust and Banking Corporation
5. Nomura Securities & Nomura Capital Investment
6. Shinsei Bank
7. Sumitomo Mitsui Banking Corporation
8. Sumitomo Trust and Banking Corporation
Addition of the Japanese loans pricing content complements pricing available from Reuters Loan Pricing Corporation for over 5,000 US and European loans, and is supported by the recent additions of a loans correspondent and loans analyst focusing purely on the Japanese market.
According to Reuters LPC, the Japanese syndicated loan volume soared to a record 210 billion Yen (+ 33% rise) during 2006.
Adrian Gostick, Head of Fixed Income for Reuters in Japan commented “Over the last few years we have seen a huge increase in syndicated lending volumes in Japan. This, combined with the increasing awareness of the benefits to borrowers, lenders and investors of a more liquid secondary market, is fuelling the appetite for increased market transparency and secondary trading activity. As the leading provider of loan market information Reuters is committed to help the development of this rapidly growing market”.
Yukio Goto, Reuters Loan Pricing Corporation Representative adds “Thanks to the close cooperation and support of the eight contributing banks Reuters is confident that this unique pricing data will provide a catalyst to the growth of secondary market activity. Experience from the US shows that greater transparency leads to more liquid markets, benefiting all participants. Release of this data is a critical step in the transformation of this market”.
The pricing data for over 70 Japanese issuers is based on hypothetical loans with the following characteristics:
- 3-5 years Standard Term Loans
- Monthly base
- Listed entities or entities who have credit ratings by credit agencies
- Nominal Face Value: Yen ½ billion
- Base Rate:TIBOR 6M
- JSLA Standard Terms Loan Agreement
Throughout 2007 Reuters will work with contributors to increase the number of issuers being priced, and to start pricing actual loans.
About Reuters Loan Pricing Corporation
Since 1985 Reuters Loan Pricing Corporation (Reuters LPC) (www.loanpricing.com), has provided market players around the world with the most complete and accurate news, data and analytics on bank loans. LPC's coverage spans the U.S., Europe, Middle East, Africa, Latin America and Asia.
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For more information contact:
Yukio Goto
Representative of Reuters Loan Pricing Corporation
Reuters Japan Ltd.
Tel: 03-3432-9298
Email: Yukio.Goto@reuters.com
Adrian Gostick
Head of Fixed Income, Japan
Reuters Japan Ltd.
Tel: 03-3432-7340
Email: Adrian.Gostick@reuters.com