jbic-pulls-off-lastminute-eurodollar-bond

JBIC pulls off last-minute Eurodollar bond

Despite volatile markets and a tight timeframe, the Japan Bank for International Cooperation successfully raises $500 million.
March 13, 2008
The Japan Bank for International Cooperation issued a $500 million, five-year fixed-rate Eurodollar bond on Wednesday, just ahead of the end of the Japanese fiscal year on March 31. The bond will be listed on the London Stock Exchange.

The bankÆs main activities consist of funding Japanese public and private sector projects overseas.

Explicitly guaranteed by JapanÆs ministry of finance and due March 2013, the deal pays a coupon of 3.375% and has a re-offer price of 99.554, giving a spread of 89.3bp over the 2.75% February 2013 US Treasury. The pricing is equivalent to Libor minus 6bp. Fees were 10 cents 0.1%.

Earlier this year, JBIC realised it had a funding shortfall and...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222