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-Nishi-Nippon City Bank plans JPY8.8bn bond issuance.

Global Banking News-March 16, 2011--Nishi-Nippon City Bank plans JPY8.8bn bond issuance(C)2011 ENPublishing -

Global Banking News - 16 March 2011

Japan's Nishi-Nippon City Bank Limited (8327.TYO) is planning to issue JPY8.8bn worth of subordinated bonds in Japan, Dow Jones has reported, citing underwriters for the issue.

The bond, which will mature on April 15, 2021, has a coupon of 1.55 percent for the first five years and then six-month euro/yen libor plus 2.39 percent.

The debt is rated 'A-' by R&I/JCR. Mizuho Securities (NYSE: MFG) (TYO: 8411) (8411.BE) and Nomura Securities (NYSE: NMR) (TYO: 8604) (AMS: 8604) are lead managers on the issue.

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Date:Mar 16, 2011
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