By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, Jan. 12 – Japan Bank for International Cooperation priced $500 million of 1.625% five-year guaranteed green bonds (A1/A+) at 99.77 to yield 1.673%, or a spread of 18.4 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The bank launched the bonds on Wednesday at mid-swaps plus 33 bps, tightened from talk in the mid-swaps plus 39 bps area, according to a market source.
The bonds will be guaranteed by Japan and are callable under certain treaty-related conditions at par plus interest.
J.P. Morgan Securities plc, Credit Agricole CIB, Daiwa Capital Markets Europe Ltd. and Morgan Stanley & Co. International plc are the underwriters for the offering.
Fixed income investor calls for the offering started on Nov. 29.
Proceeds of the SEC-registered bonds will be used for the bank’s ordinary operations or for future eligible green projects.
The financial institution is based in Tokyo.
| Issuer: | Japan Bank for International Cooperation
|
| Guarantor: | Japan
|
| Amount: | $500 million
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| Issue: | Guaranteed green bonds
|
| Maturity: | Jan. 20, 2027
|
| Bookrunners: | J.P. Morgan Securities plc, Credit Agricole CIB, Daiwa Capital Markets Europe Ltd. and Morgan Stanley & Co. International plc
|
| Coupon: | 1.625%
|
| Price: | 99.77
|
| Yield: | 1.673%
|
| Spread: | Treasuries plus 18.4 bps
|
| Call: | Under certain treaty-related conditions at par plus interest
|
| Pricing date: | Jan. 12
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| Settlement date: | Jan. 20
|
| Ratings: | Moody’s: A1
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| S&P: A+
|
| Format: | SEC registered
|
| Guidance: | Mid-swaps plus 33 bps, tightened from mid-swaps plus 39 bps area
|
| Cusip: | 471048CP1
|
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