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Business deals

Takeda to issue up to $20bn in bonds for Shire takeover

Drugmaker set to become Japan's biggest-ever bond issuer surpassing SoftBank

  © Reuters

TOKYO -- Japanese drugmaker Takeda Pharmaceutical is set to issue up to $20 billion (2.2 trillion yen) in bonds to finance its acquisition of Ireland-based drugmaker Shire, in what would be the biggest-ever debt issuance by a Japanese company, Nikkei learned Monday.

The plan would allow the Osaka-based company to take advantage of low interest rates in Japan, where many institutional investors are hungry for investment opportunities offering higher yields.

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