By Wendy Van Sickle and Cristal Cody
Columbus Ohio, July 11 – Japan Bank for International Cooperation priced $1.5 billion of 4.625% five-year guaranteed senior bonds (A1/A+) on Tuesday at Treasuries plus 48.2 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes were sold at 99.559 to yield 4.725%.
The notes priced at SOFR mid-swaps plus 69 bps, on the tight end of talk in the SOFR mid-swaps plus 73 bps area, according to a market source.
Daiwa Capital Markets Europe Ltd., Barclays, BofA Securities, Inc. and Goldman Sachs International 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
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| Guarantor: | Japan
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| Amount: | $1.5 billion
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| Issue: | Guaranteed senior bonds
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| Maturity: | July 19, 2028
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| Bookrunners: | Daiwa Capital Markets Europe Ltd., Barclays, BofA Securities, Inc. and Goldman Sachs International
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| Fiscal agent: | MUFG Bank, Ltd., London Branch
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| Counsel to issuer: | Mori Hamada & Matsumoto
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| Counsel to underwriters: | Skadden, Arps, Slate, Meagher & Flom LLP
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| Coupon: | 4.625%
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| Price: | 99.559
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| Yield: | 4.725%
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| Spread: | SOFR mid-swaps plus 69 bps, or Treasuries plus 48.2 bps
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| Call feature: | Non-callable
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| Trade date: | July 11
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| Settlement date: | July 19
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| Ratings: | Moody’s: A1
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| S&P: A+
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| Distribution: | SEC registered
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| Talk: | SOFR mid-swaps plus 73 bps area
|
| Cusip: | 471048CX4
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