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...Together, the “epcos” accounted for 16 per cent of Japan’s corporate bond market at the end of September. In their absence, credit spreads have been unusually tight, even for lesser-quality borrowers....
...UBS advised Epcos....
...“With TDK, investors understood this was a special case for the financing of the acquisition of [Germany-based] Epcos and its first debt issuance in 24 years,” says Yasuro Ken Koizumi, in charge of debt...
...TDK was also in the limelight after it said it is making an offer of 1.2bn euros for German company Epcos. TDK shares closed down 1.5 per cent at Y6,500, while Epcos shares surged nearly 30 per cent....
...Shares in Epcos opened 7.7 percent lower on Friday after the German electronics components maker said that it may miss its target of raising sales and earnings in 2005....
...Friday brought similar news from Epcos, the German electronics firm, whose shares fell 6.3 per cent to €10.20....
...But UBS upgraded components maker Epcos to “neutral” from “reduce” and retained its target of €12 a share for the stock. Epcos shares rose 2.7 per cent to €12.23....
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