Japan Bank talks dollar five-year bonds at mid-swaps plus 40 bps area

By Cristal Cody

Tupelo, Miss., May 15 – Japan Bank for International Cooperation plans to price a dollar-denominated offering of five-year guaranteed bonds (A1/A+) on Thursday, according to a market source and an 424B5 filing with the Securities and Exchange Commission.

The bonds due May 23, 2024 were initially talked to price with a spread in the mid-swaps plus 40 basis points area.

Barclays, Daiwa Capital Markets Europe Ltd., Goldman Sachs International and J.P. Morgan Securities plc are the bookrunners.

The notes will be guaranteed by Japan.

The bonds are non-callable except in the event of certain tax changes.

Proceeds will be used for the bank’s ordinary operations.

The financial institution is based in Tokyo.

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