By Cristal Cody
Chicago, Sept. 16 – Development Bank of Japan Inc. sold $600 million of 4.375% three-year senior sustainability notes on Thursday, according to an informed source.
Pricing on the spread came at 71 basis points over SOFR mid-swaps. Initial price talk was in the 75 bps area but was guided into the 73 bps area.
Mizuho International plc, Barclays Bank plc, Citigroup Global Markets Ltd. and Morgan Stanley & Co. International plc are managers for the Regulation S and Rule 144A offering.
The development bank is based in Tokyo.
| Issuer: | Development Bank of Japan Inc.
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| Amount: | $600 million
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| Issue: | Senior sustainability notes
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| Maturity: | Sept. 22, 2025
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| Bookrunners: | Mizuho International plc, Barclays Bank plc, Citigroup Global Markets Ltd. and Morgan Stanley & Co. International plc
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| Coupon: | 4.375%
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| Spread: | SOFR mid-swaps plus 71 bps
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| Trade date: | Sept. 15
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| Distribution: | Regulation S and Rule 144A
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| Price talk: | SOFR mid-swaps plus 75 bps area; guided to SOFR mid-swaps plus 73 bps area
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