By Mary-Katherine Stinson and Cristal Cody
Lexington, Ky., April 17 – Japan Finance Organization for Municipalities priced $1.5 billion of 5% five-year notes on Tuesday to yield SOFR mid-swaps plus 65 basis points, or Treasuries plus 40.4 bps, according to a market source.
Talk started in the SOFR mid-swaps plus 69 basis points area. Guidance was firmed to the SOFR mid-swaps plus 67 bps area.
BofA Securities, Barclays, Daiwa Securities and Nomura led the sale.
The Japan Finance Organization for Municipalities is a Tokyo-based funding organization for Japanese local governments.
| Issuer: | Japan Finance Organization for Municipalities
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| Amount: | $1.5 billion
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| Issue: | Global notes
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| Maturity: | April 23, 2029
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| Bookrunners: | BofA Securities, Barclays, Daiwa Securities and Nomura
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| Coupon: | 5%
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| Spread: | SOFR mid-swaps plus 65 bps, or Treasuries plus 40.4 bps
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| Pricing date: | April 16
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| Price talk: | SOFR mid-swaps plus 69 bps area; guided to SOFR mid-swaps plus 67 bps area
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