JBIC sells mammoth $2.5bn bond

The Japanese state-run entity raises its first dual-tranche note of the year to finance its operations amid a relatively low US Treasury yield environment.

JBIC sells mammoth $2.5bn bond

Japan Bank for International Cooperation JBIC raised its first $2.5 billion dual-tranche note of 2014 on Thursday, fulfilling half of its annual international funding programme.

The SEC-registered note split into a $1.5 billion five-year and $1 billion 10-year tranche is unconditionally and irrevocably guaranteed by the Japanese government, resulting in a credit rating that is on par as the sovereign. The government of Japan is rated Aa3 by Moody’s.

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