Renault, the French auto manufacturer that owns part of Nissan Motors, is preparing its second 'Samurai' bond, or issue by a non- Japanese borrower targeted at Japanese investors, for launch in 2002, according to a filing with the Japanese finance ministry.

The Â¥35bn (€304m) five-year transaction, which will have a subscription date of January 22 and a payment date of February 5, will be lead managed by Daiwa Securities SMBC and Merrill Lynch. The same banks ran the books on Renault's Â¥50bn inaugural Samurai offering in September 2001.