By Rebecca Melvin
Concord, N.H., April 14 – ORIX Corp. priced €300 million four-year senior green bonds (expected: Aa3/A-/A-) to yield mid-swaps plus 75 basis points on Wednesday, according to a market source and regulatory notice.
Pricing was tight to initial talk of mid-swaps plus 90 bps area.
Order books for the Regulation S deal were in excess of €660 million at the time of launch.
Bookrunners are J.P. Morgan Securities plc, BofA Securities, Credit Agricole CIB, BNP Paribas and Citigroup.
Settlement is expected to occur on April 20. After that, the bonds (ISIN: XS2447987483), issued under ORIX’s euro medium-term note program, will be listed on the Singapore Exchange Securities Trading Ltd.
Proceeds will be used to finance, in whole or in part, certain eligible projects.
ORIX is a financial services company based in Tokyo.
| Issuer: | ORIX Corp.
|
| Issue: | Senior green bonds
|
| Amount: | €300 million
|
| Maturity: | Four years
|
| Bookrunners: | J.P. Morgan Securities plc, BofA Securities, Credit Agricole CIB, BNP Paribas and Citigroup
|
| Yield: | Mid-swaps plus 75 bps
|
| Pricing date: | April 13
|
| Settlement date: | April 20
|
| Expected ratings: | Moody’s: Aa3
|
| S&P: A-
|
| Fitch: A-
|
| Listing: | Singapore
|
| Distribution: | Regulation S
|
| Initial price talk: | Mid-swaps plus 90 bps area
|
| ISIN: | XS2447987483
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