Nomura is still struggling to recover from the aftermath of the Archegos Capital Management deal, but there was some good news on Tuesday.

Japan's largest brokerage returned to the market by issuing $3.25 billion in US dollar bonds after it took a rare step in March to cancel a deal that had already been priced. Because of lower borrowing costs in the market, Nomura is now paying 20-30 basis points less than the rate it agreed to pay in March.

The company priced $3.25 billion of dollar-denominated bonds on March 23, but cancelled before completion, when it warned that an unnamed US client could cause significant potential losses. People familiar with the matter said the warning was related to Bill Hwang's Archegos unwinding trade.

The Japanese brokerage is one of the financial institutions hit hard by the implosion of Archegos in the world. Nomura lost $2.9 billion, second only to Credit Suisse.Group.