By Aleesia Forni
Virginia Beach, Feb. 3 – Japan Bank for International Cooperation priced $1 billion of 2.125% guaranteed bonds (A1/AA-/) due 2025 at mid-swaps plus 31 basis points, or Treasuries plus 44.8 bps, according to a market source and an FWP filed with the Securities and Exchange Commission.
The bonds sold tight of price guidance set in the high-30 bps area over mid-swaps.
Pricing was at 99.339 to yield 2.199%
The bonds are guaranteed by Japan.
BNP Paribas Securities Corp., BofA Merrill Lynch, Daiwa Capital Markets Europe and Nomura International plc were the joint bookrunners.
Proceeds will be used for the bank’s financing operations.
The financial institution is based in Tokyo.
| Issuer: | Japan Bank for International Cooperation
|
| Amount: | $1 billion
|
| Description: | Guaranteed bonds
|
| Maturity: | Feb. 10, 2025
|
| Bookrunners: | BNP Paribas Securities Corp., BofA Merrill Lynch, Daiwa Capital Markets Europe, Nomura International plc
|
| Coupon: | 2.125%
|
| Price: | 99.339
|
| Yield: | 2.199%
|
| Spread: | Mid-swaps plus 31 bps, Treasuries plus 44.8 bps
|
| Trade date: | Feb. 3
|
| Settlement date: | Feb. 10
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: AA-
|
| Distribution: | SEC-registered
|
| Price talk: | Mid-swaps plus high-30 bps area
|
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