JBIC talks global notes due 2025 in SOFR mid-swaps plus 42 bps area

By Devika Patel and Cristal Cody

Knoxville, Tenn., April 7 – Japan Bank for International Cooperation is planning to sell dollar-denominated global notes due April 15, 2025, according to a market source.

Initial price talk for the notes is in the SOFR mid-swaps plus 42 basis points area.

The notes will be guaranteed by Japan and are non-callable.

Pricing is expected on Thursday.

Citigroup Global Markets Inc., Credit Agricole CIB, Daiwa Capital Markets Europe and Goldman Sachs & Co. are the bookrunners.

As previously reported, Mori Hamada & Matsumoto is advising the issuer. Skadden, Arps, Slate, Meagher & Flom LLP is listed as the legal adviser to the bookrunners.

Proceeds will be used for the bank’s ordinary operations, according to a 424B5 filed with the Securities and Exchange Commission on Wednesday.

The financial institution is based in Tokyo.

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