Development Bank of Japan sets spreads for $1.8 billion in two parts

By Devika Patel

Knoxville, Tenn., Aug. 23 – Development Bank of Japan Inc. fixed the size of its offering of senior notes (A1/A+) in five- and 10-year tranches at $1.8 billion and set spreads, according to a market source.

The $1 billion of notes due Sept. 1, 2022 will price at mid-swaps plus 42 basis points while the $800 million of notes due Sept. 1, 2027 will price at mid-swaps plus 59 bps.

Orders for the five-year notes total more than $3 billion and for the 10-year notes more than $1.8 billion.

The global books were due to close at 7 a.m. ET on Wednesday. Pricing was planned for later in the session.

Citigroup, Daiwa, BNP Paribas and Barclays are the joint bookrunners for the Rule 144A and Regulation S sale.

The notes will be guaranteed by Japan.

The financial services and investment company is based in Tokyo.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.