By Rebecca Melvin
Concord, N.H., Sept. 7 – Development Bank of Japan Inc. priced €600 million 0.01% sustainability bonds at 101.144 to yield negative 0.274%, or a spread over mid-swaps of 11 basis points, according to a market source.
Pricing was tight to talk for a benchmark offering of green bonds to yield mid-swaps plus 16 bps area.
Proceeds will be used to finance or refinance projects or businesses under the company’s sustainable bond framework.
Bookrunners for the Regulation S deal are listed as Daiwa Capital Markets Europe, Barclays, BNP Paribas and Nomura (bill and deliver).
Listing for the notes will be in Luxembourg.
Settlement is expected Sept. 9.
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.
|
| Issue: | Sustainability bonds
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| Amount: | €600 million
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| Maturity: | Sept. 9, 2025
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| Coupon: | 0.01%
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| Price: | 101.144
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| Yield: | Negative 0.274%
|
| Spread: | Mid-swaps plus 11 bps
|
| Distribution: | Regulation S
|
| Settlement date: | Sept. 9
|
| Talk: | Mid-swaps plus 16 bps area
|
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