By Cristal Cody
Eureka Springs, Ark., July 13 – Japan Bank for International Cooperation sold $3 billion of guaranteed senior bonds (A1/A+) in two parts on Wednesday, according to an FWP filing with the Securities and Exchange Commission.
The bank brought $1.5 billion of 1.5% five-year guaranteed bonds at 99.526 to yield 1.599%, or 54.7 basis points over Treasuries.
Japan Bank sold $1.5 billion of 1.875% 10-year guaranteed bonds at 99.475 to yield 1.933%. The notes priced with a spread of 46.7 bps over Treasuries.
Citigroup Global Markets Inc., BofA Merrill Lynch, BNP Paribas Securities Corp. and Nomura International plc were the bookrunners.
The notes are guaranteed by Japan.
Proceeds will be used for the bank’s financing operations.
The financial institution is based in Tokyo.
| Issuer: | Japan Bank for International Cooperation
|
| Guarantor: | Japan
|
| Amount: | $3 billion
|
| Description: | Guaranteed senior bonds
|
| Bookrunners: | Citigroup Global Markets Inc., BofA Merrill Lynch, BNP Paribas Securities Corp., Nomura International plc
|
| Call feature: | In event of certain Japanese taxation changes at par plus accrued interest
|
| Trade date: | July 13
|
| Settlement date: | July 21
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Distribution: | SEC registered
|
|
|
| Five-year bonds
|
| Amount: | $1.5 billion
|
| Maturity: | July 21, 2021
|
| Coupon: | 1.5%
|
| Price: | 99.526
|
| Yield: | 1.599%
|
| Spread: | Treasuries plus 54.7 bps
|
|
|
| 10-year bonds
|
| Amount: | $1.5 billion
|
| Maturity: | July 21, 2026
|
| Coupon: | 1.875%
|
| Price: | 99.475
|
| Yield: | 1.933%
|
| Spread: | Treasuries plus 46.7 bps
|
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