Development Bank of Japan prints $1 billion fixed-rate notes

Development Bank of Japan’s $1 billion five-year bond is a record size for the issuer in the US dollar supra-sovereign agency market.


The Development Bank of Japan DBJ priced a $1 billion five-year bond deal yesterday -- the largest bond transaction ever by the government agency in the US dollar supra-sovereign agency market. The notes, which are set to mature on April 20, 2015, are rated Aa2 by Moody's and AA by Standard and Poor's.

The bonds will pay a semi-annual fixed-rate coupon of 2.875% and were re-offered at 99.456 for a yield of 2.993%.

Initial guidance was set at mid-swaps...

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