By Cristal Cody
Tupelo, Miss., Sept. 10 – Japan Bank for International Cooperation priced $1.5 billion of 0.375% three-year guaranteed senior bonds (A1/A+) on Thursday at mid-swaps plus 18 basis points, or a Treasuries plus 24.5 bps spread, according to a market source and an FWP filing with the Securities and Exchange Commission.
Initial price talk was at the mid-swaps plus 20 bps area.
The notes were sold at 99.866 to yield 0.42%.
Daiwa Capital Markets Europe Ltd., Barclays, BofA Securities, Inc. and Mizuho Securities USA LLC were the bookrunners.
The bonds are guaranteed by Japan.
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: | $1.5 billion
|
| Maturity: | Sept. 15, 2023
|
| Description: | Guaranteed senior bonds
|
| Bookrunners: | Daiwa Capital Markets Europe Ltd., Barclays, BofA Securities, Inc. and Mizuho Securities USA LLC
|
| Coupon: | 0.375%
|
| Price: | 99.866
|
| Yield: | 0.42%
|
| Spread: | Mid-swaps plus 18 bps, or Treasuries plus 24.5 bps
|
| Call feature: | Non-callable
|
| Trade date: | Sept. 10
|
| Settlement date: | Sept. 17
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Distribution: | SEC registered
|
| Price guidance: | Mid-swaps plus 20 bps area
|
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