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Samurai bond priced

Samurai bond priced

Samurai bond priced

The Ministry of Finance priced today a two-tranche bond denominated in Japanese yen for an aggregate nominal amount of JPY 60 bn:

  • a 5 year bond of a nominal amount of JPY 50 bn maturing on 15 November 2018 which was priced at 28 basis points over the swap rate what implies a yield of 0.67 per cent,
  • a 7 year bond of a nominal amount of JPY 10 bn maturing on 13 November 2020 which was priced at 38 basis points over the swap rate what implies a yield of 0.91 per cent.

The issue price was set at par.

Spreads derived from pricing are the lowest in case of bonds launched on the yen market since the crisis in 2008. At the same time, the 5-year bonds yield is the lowest in the history for all bonds issued by Poland in international markets.

The bonds have been allocated mainly to Japanese institutional investors such as: banks, insurance companies, asset managers and public institutions. Among the buyers were also new investors visited by representatives of the Ministry of Finance during the roadshow last week.

The lead managers on the transaction were Daiwa and Nomura. The transaction will be settled on 15 November 2013.
 

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