By Cristal Cody
Tupelo, Miss., Sept. 4 – Mitsubishi UFJ Financial Group, Inc. priced $3 billion of senior notes (A1/A-/A) in three tranches on Tuesday, according to a market source.
The company placed an $850 million tap of its floating-rate notes due July 26, 2023 to yield Libor plus 81 bps.
MUFG originally sold $800 million of the floaters on July 17 at par to yield Libor plus 86 bps. The total outstanding is now $1.65 billion.
MUFG also priced a $1.15 billion add-on to its 3.761% notes due July 26, 2023 at a spread of 95 bps over Treasuries.
The five-year notes originally priced in a $1 billion tranche in the July offering at par to yield a spread of Treasuries plus 100 bps. The total outstanding is now $2.15 billion.
The issuer also priced $1 billion of new 4.05% 10-year notes at a Treasuries plus 115 bps spread.
Morgan Stanley & Co. LLC, MUFG, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC were the bookrunners.
Proceeds will be used to fund operations of the bank through loans.
The bank is based in Tokyo.
| Issuer: | Mitsubishi UFJ Financial Group, Inc.
|
| Amount: | $3 billion
|
| Description: | Senior notes
|
| Bookrunners: | Morgan Stanley & Co. LLC, MUFG, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC
|
| Trade date: | Sept. 4
|
| Ratings: | Moody’s: A1
|
| S&P: A-
|
| Fitch: A
|
| Distribution: | SEC registered
|
|
|
| Five-year floaters
|
| Amount: | $850 million reopening
|
| Maturity: | July 26, 2023
|
| Coupon: | Libor plus 86 bps
|
| Yield: | Libor plus 81 bps
|
| Call feature: | None
|
| Total outstanding: | $1.65 billion, including $800 million of notes priced July 17 at par to yield Libor plus 86 bps
|
|
|
| Five-year notes
|
| Amount: | $1.15 billion reopening
|
| Maturity: | July 26, 2023
|
| Coupon: | 3.761%
|
| Spread: | Treasuries plus 95 bps
|
| Call feature: | None
|
| Total outstanding: | $2.15 billion, including $1 billion of notes priced July 17 at par to yield a spread of Treasuries plus 100 bps
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | Sept. 11, 2028
|
| Coupon: | 4.05%
|
| Spread: | Treasuries plus 115 bps
|
| Call feature: | None
|
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