Chicago, Sept. 6 – Development Bank of Japan priced €500 million of 3.5% four-year sustainability bonds on Wednesday, according to a market source.
The bonds priced at 99.912 to yield 3.524%, or at mid-swaps plus 22 basis points. Price talk was in the 28 bps area.
Daiwa Capital Markets Europe (billing and delivery), Mizuho International plc, BofA Securities, Inc. and BNP Paribas Securities Corp. were bookrunners for the Regulation S offering.
Proceeds will be used to finance or refinance eligible projects.
The deal was a blowout. Including interest from the joint lead managers, orders went over €5 billion in less than an hour and a half after books opened. Marketing on the notes started earlier in the week.
The bonds will be listed in Luxembourg.
The development bank is based in Tokyo.
| Issuer: | Development Bank of Japan
|
| Amount: | €500 million
|
| Issue: | Sustainability bonds
|
| Maturity: | Sept. 13, 2027
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| Bookrunners: | Daiwa Capital Markets Europe (billing and delivery), Mizuho International plc, BofA Securities, Inc. and BNP Paribas Securities Corp.
|
| Coupon: | 3.5%
|
| Price: | 99.912
|
| Yield: | 3.524%
|
| Spread: | Mid-swaps plus 22 bps
|
| Trade date: | Sept. 6
|
| Settlement date: | Sept. 13
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 28 bps area
|
| ISIN: | XS2677519196
|
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