Its spreads were also hit by uncertainty over the state of its production plant in Northern Japan, which was closed for inspection following an earthquake on Monday. But another Tokyo-based credit derivatives trader said Fujitsu’s spreads were also affected by rumours the company would issue more convertible bonds. Fujitsu credit default swaps traded at 155bp-mid today.
The cost of protection on the technology company’s debt was already rising last week, when rating agency Standard & Poor’s
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