By Rebecca Melvin and Cristal Cody
New York, Feb. 26 – Development Bank of Japan Inc. sold $520 million of three-year senior sustainability notes on Thursday to yield 14 basis points over mid-swaps, or Treasuries plus 23.6 bps, according to a market source.
The Rule 144A and Regulation S notes had been talked in the mid-swaps plus 19 bps area.
Morgan Stanley, Barclays, Citigroup and Mizuho Securities were bookrunners for the notes.
Marketing for the notes started on Feb. 17 via investor calls.
Development Bank of Japan is a Tokyo-based financial services and investment company owned by the government of Japan.
| Issuer: | Development Bank of Japan Inc.
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| Issue: | Senior sustainability notes
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| Amount: | $520 million
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| Maturity: | March 4, 2024
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| Bookrunners: | Morgan Stanley, Barclays, Citigroup and Mizuho Securities
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| Spread: | Mid-swaps plus 14 bps, or Treasuries plus 23.6 bps
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| Pricing date: | Feb. 25
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| Distribution: | Rule 144A and Regulation S
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| Price guidance: | Mid-swaps plus 19 bps area
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