By Aleesia Forni
Virginia Beach, Feb. 5 – Japan Finance Organization for Municipalities sold $1 billion of 2.375% notes (A1/AA-/) due 2025 at a spread of mid-swaps plus 48 basis points, according to a market source and a company release.
The debt was priced at 99.611 to yield 2.419%.
The bookrunners were Barclays, Goldman Sachs and J.P. Morgan Securities LLC.
The notes were sold via Rule 144A and Regulation S.
The lender to local governments is based in Tokyo.
| Issuer: | Japan Finance Organization for Municipalities
|
| Amount: | $1 billion
|
| Description: | Notes
|
| Maturity: | Feb. 13, 2025
|
| Bookrunners: | Barclays, Goldman Sachs, J.P. Morgan Securities LLC
|
| Coupon: | 2.375%
|
| Price: | 99.611
|
| Yield: | 2.419%
|
| Spread: | Mid-swaps plus 48 bps
|
| Trade date: | Feb. 5
|
| Settlement date: | Feb. 13
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: AA-
|
| Price talk: | Mid-swaps plus 50 bps area
|
| Distribution: | Rule 144A, Regulation S
|
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