JAPAN: Renault 'delays bond offer after Enron collapse' - Bloomberg
Renault has 'delayed' a sale of 35 billion yen ($262 million) of bonds in Japan as domestic investors shun debt from foreign borrowers in the wake of Enron Corp.'s collapse according to Bloomberg.
The report adds that the company 'won't proceed' with the offer right now, citing an official at one of the arrangers as the source. Daiwa Securities SMBC Co. and Merrill Lynch & Co. were handling the sale which has been postponed once already.
Japanese investors are feeling nervous about debt sold by overseas companies, referred to as 'Samurai' bonds, after Enron defaulted on its yen-denominated bonds when it filed for protection from creditors last month.