By Rebecca Melvin
Concord, N.H., Feb. 9 – Japan Bank for International Cooperation priced $1.25 billion of 2.125% guaranteed bonds due Feb. 16, 2029 (A1/A+) at 99.792 to yield 2.157%, or a spread of 25.1 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The notes priced with a spread of SOFR mid-swaps plus 45 bps versus price talk in the SOFR mid-swaps plus 46 bps area.
The bonds are guaranteed by Japan and are callable in whole under certain taxation changes at par plus interest.
Barclays Bank plc, Citigroup Global Markets Ltd., Daiwa Capital Markets Europe Ltd. and Nomura International plc are the underwriters for the offering.
Proceeds of the SEC-registered bonds will be used for the bank’s ordinary operations.
The financial institution is based in Tokyo.
| Issuer: | Japan Bank for International Cooperation
|
| Guarantor: | Japan
|
| Amount: | $1.25 billion
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| Issue: | Guaranteed bonds
|
| Maturity: | Feb. 16, 2029
|
| Bookrunners: | Barclays Bank plc, Citigroup Global Markets Ltd., Daiwa Capital Markets Europe Ltd. and Nomura International plc
|
| Coupon: | 2.125%
|
| Price: | 99.792
|
| Yield: | 2.157%
|
| Spread: | Treasuries plus 25.1 bps, or SOFR mid-swaps plus 45 bps
|
| Call: | Under certain taxation changes at par plus interest
|
| Pricing date: | Feb. 9
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| Settlement date: | Feb. 16
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Price talk: | SOFR mid-swaps plus 46 bps area
|
| Format: | SEC registered
|
| ISIN: | XS2436445691
|
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