-Busan Bank launches Samurai bond offer.
Global Banking News-February 10, 2011--Busan Bank launches Samurai bond offer(C)2011 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 10 February 2011
South Korea-based commercial lender Busan Bank (SEO: 005280) has offered JPY20bn of samurai bonds in Japan via two tranches, Dow Jones has reported, citing underwriters for the issue.
The first 1.5 year JPY16.5bn tranche, which will mature on August 17, 2012, has a coupon of 1.79 percent and yield of 1.790 percent with a spread of 133 basis points over swap rates. The second two year JPY3.5bn tranche, which will mature on February 15, 2013, has a coupon of 1.90 percent and yield of 1.900 percent with a spread of 140 basis points over swap rates.
The Samurai bond, or yen-denominated bond issued by foreign borrowers in Japan, is rated 'A' by JCR. Daiwa Securities Capital Markets (TYO: 8601) (FRA: 8601), JPMorgan Securities (NYSE: JPM), Mizuho Securities (NYSE: MFG) (TYO: 8411) (8411.BE) and UBS Securities (NYSE: UBS) (ZHR: UBSN) (UBSN.VX) are lead managers on the issue.
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|Date:||Feb 10, 2011|
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