By Paul A. Harris
St. Louis, Feb. 23 - The Republic of the Philippines priced a ¥100 billion issue of 10-year fixed-rate Samurai bonds at a spread to mid-swaps of 85 basis points on Tuesday, according to a market source.
The spread printed at the tight end of the mid-swaps plus 85 to 90 bps guidance.
Daiwa Securities Capital Markets, Mitsubishi UFJ Securities and Nomura Securities Co. were the leads.
The issue is 95% guaranteed by the Japan Bank for International Cooperation.
| Issuer: | Republic of the Philippines
|
| Guarantor: | Japan Bank for International Cooperation (95% guarantee)
|
| Amount: | ¥100 billion
|
| Maturity: | March 2, 2020
|
| Securities: | Fixed-rate Samurai bonds
|
| Bookrunners: | Daiwa Securities Capital Markets, Mitsubishi UFJ Securities, Nomura Securities Co.
|
| Coupon: | 2.32%
|
| Price: | Par
|
| Yield: | 2.32%
|
| Spread: | Mid-swaps plus 85 bps
|
| Trade date: | Feb. 23
|
| Settlement date: | March 2
|
| Price talk: | Mid-swaps plus 85 to 90 bps
|
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