credit-suisse-prices-Ñ643-billion-samurai-bond

Credit Suisse prices Ñ64.3 billion samurai bond

Credit Suisse taps the samurai bond market for the first time in four years.
In an effort to diversify its investor base, Credit Suisse Group has priced a three-tranche Ñ64.3 billion $600 million samurai bond.

Credit Suisse Group Finance, part of Swiss bank giant Credit Suisse Group, says it sold Ñ20 billion in five-year fixed-rate notes, Ñ7.3 billion in three-year floating-rate notes and Ñ37 billion in five-year floating-rate notes. The five-year fixed-rate notes have a 2.41% coupon.

The three-year floating-rate notes have a spread of 90bp over three-month yen Libor, while the five-year floating-rate notes have a spread of 110bp over the same benchmark. All three tranches were issued at par.

The fixed-rate notes are targeted at life insurance companies, regional banks and pension funds, according to a Credit...
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