Chicago, Feb. 15 – East Japan Railway Co. priced an upsized €750 million offering of 4.11% green bonds with a 20-year tenor at par (A1/A+) on Wednesday, according to a market source.
The notes priced at mid-swaps plus 130 basis points.
Initial price talk was in the mid-swaps plus 150 bps area.
The deal was upsized from an anticipated €500 million.
BofA, BNP Paribas (billing and delivery) and Nomura are the joint bookrunners for the Regulation S deal.
Books closed above €3.5 billion.
Proceeds will be used for eligible projects.
Based in Tokyo, JR East is the largest of seven Japan Railways Group companies.
| Issuer: | East Japan Railway Co.
|
| Amount: | €750 million
|
| Issue: | Senior green notes
|
| Maturity: | Feb. 22, 2043
|
| Bookrunners: | BofA, BNP Paribas (billing and delivery) and Nomura
|
| Coupon: | 4.11%
|
| Price: | Par
|
| Yield: | 4.11%
|
| Spread: | Mid-swaps plus 130 bps
|
| Trade date: | Feb. 15
|
| Settlement date: | Feb. 22
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 150 bps area
|
| ISIN: | XS2588859376
|
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