By Cristal Cody
Tupelo, Miss., May 13 – Japan Bank for International Cooperation priced $2 billion of 0.625% three-year guaranteed bonds (A1/A+) on Wednesday at mid-swaps plus 43 basis points, or a spread of Treasuries plus 48.2 bps, according to a market source and an FWP filing with the Securities and Exchange Commission.
Initial price talk was at the mid-swaps plus 51 bps area with guidance tightened to the mid-swaps plus 46 bps area.
The notes priced at 99.852 to yield 0.675%.
Citigroup Global Markets Ltd., Daiwa Capital Markets Europe Ltd., Goldman Sachs International and J.P. Morgan Securities plc were the bookrunners.
The bonds are guaranteed by Japan.
The notes will be listed on the Luxembourg Stock Exchange.
Proceeds from the deal will be used for ordinary operations of the bank.
The financial institution is based in Tokyo.
| Issuer: | Japan Bank for International Cooperation
|
| Guarantor: | Japan
|
| Amount: | $2 billion
|
| Description: | Guaranteed global notes
|
| Maturity: | May 22, 2023
|
| Bookrunners: | Citigroup Global Markets Ltd., Daiwa Capital Markets Europe Ltd., Goldman Sachs International and J.P. Morgan Securities plc
|
| Coupon: | 0.625%
|
| Price: | 99.852
|
| Yield: | 0.675%
|
| Spread: | Mid-swaps plus 43 bps, or Treasuries plus 48.2 bps
|
| Call feature: | Non-callable
|
| Trade date: | May 13
|
| Settlement date: | May 22
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Distribution: | SEC registered
|
| Price talk: | Mid-swaps plus 46 bps area; initial talk at mid-swaps plus 51 bps area
|
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