JBIC pulls off last-minute Eurodollar bond
Despite volatile markets and a tight timeframe, the Japan Bank for International Cooperation successfully raises $500 million.
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...
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