By Marisa Wong and Cristal Cody
Los Angeles, April 9 – Japan Bank for International Cooperation priced $1 billion of 4.625% guaranteed senior bonds due 2034 (A1/A+) on Wednesday at SOFR mid-swaps plus 69 basis points, according to an FWP filing with the Securities and Exchange Commission and information provided by a market source.
Price guidance was in the SOFR mid-swaps plus 71 bps area, revised from initial talk in the mid-swaps plus 73 bps area.
The bonds were sold at 99.423 to yield 4.698%.
The bonds are guaranteed by Japan.
Barclays Bank plc, BofA Securities, Inc., Daiwa Capital Markets Europe Ltd. and Nomura International plc are the joint lead managers.
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 billion
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| Issue: | Guaranteed senior bonds
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| Maturity: | April 17, 2034
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| Lead managers: | Barclays Bank plc, BofA Securities, Inc., Daiwa Capital Markets Europe Ltd. and Nomura International plc
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| Fiscal agent: | MUFG Bank, Ltd., London Branch
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| Counsel to issuer: | Mori Hamada & Matsumoto and Morrison & Foerster LLP
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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: | 99.423
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| Yield: | 4.698%
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| Spread: | SOFR mid-swaps plus 69 bps, or Treasuries plus 32.8 bps
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| Call feature: | In whole at par upon changes to Japanese tax law
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| Pricing date: | April 9
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| Settlement date: | April 17
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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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| Listing: | Luxembourg
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| Price guidance: | SOFR mid-swaps plus 71 bps area, revised from initial talk in the mid-swaps plus 73 bps area
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| Cusip: | 471048DA3
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