Published on 7/6/2023 in the Prospect News Investment Grade Daily.
New Issue: Nomura sells $1.5 billion of senior notes due 2028, 2033
By Mary-Katherine Stinson and Cristal Cody
Lexington, Ky., July 6 – Nomura Holdings Inc. sold two tranches of senior notes totaling $1.5 billion with tenors of five years and 10 years (Baa1/BBB+), according to an FWP filed with the Securities and Exchange Commission and a market source.
The $900 million of 6.07% senior notes due July 12, 2028 priced at par, or at Treasuries plus 183 basis points. Price talk was in the Treasuries plus 210 area, revised from initial talk in the Treasuries plus 215 bps area, a source noted.
The $600 million of 6.087% senior notes due July 12, 2033 priced at par, or at Treasuries plus 215 bps. Price talk was in the Treasuries plus 240 area, revised from initial talk in the Treasuries plus 245 bps area.
Except for taxation reasons, the notes are non-callable.
Nomura Securities International, Inc., BofA Securities, Inc., Citigroup Global Markets Inc., SMBC Nikko Securities America, Inc., BMO Capital Markets Corp., CIBC World Markets Corp., Credit Agricole CIB, Intesa Sanpaolo SpA, Natixis Securities Americas LLC, Nordea Bank Abp and TD Securities (USA) LLC are joint lead managers and joint bookrunners.
Proceeds will be used for loans to subsidiaries, including Nomura Securities Co., Ltd., which will use the funds for general corporate purposes.
The notes will be listed in Singapore.
The financial services company is based in Tokyo.
| Issuer: | Nomura Holdings Inc.
|
| Amount: | $1.5 billion
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| Issue: | Senior notes
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| Bookrunners: | Nomura Securities International, Inc., BofA Securities, Inc., Citigroup Global Markets Inc., SMBC Nikko Securities America, Inc., BMO Capital Markets Corp., CIBC World Markets Corp., Credit Agricole CIB, Intesa Sanpaolo SpA, Natixis Securities Americas LLC, Nordea Bank Abp and TD Securities (USA) LLC
|
| Co-managers: | Barclays, BNP Paribas Securities Corp., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, Banco de Sabadell, SA, Bankinter, SA, BBVA Securities Inc., DBS Bank Ltd., Kexim Asia Ltd., Kookmin Bank Co., Ltd., SEB Securities, Inc., Societe Generale, Swedbank AB (publ), Korea Development Bank and Unicaja Banco SA
|
| Trustee: | Citibank, NA
|
| Counsel to issuer: | Sullivan & Cromwell LLP and Anderson Mori & Tomotsune
|
| Counsel to bookrunners: | Simpson Thacher & Bartlett LLP
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| Trade dates: | July 5
|
| Settlement dates: | July 12
|
| Ratings: | Moody’s: Baa1
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| S&P: BBB+
|
|
|
| 2028 notes
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| Amount: | $900 million
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| Maturity: | July 12, 2028
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| Coupon: | 6.07%
|
| Price: | Par
|
| Yield: | 6.07%
|
| Spread: | Treasuries plus 183 bps
|
| Call features: | Non-callable
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| Price talk: | Treasuries plus 215 bps area
|
| Cusip: | 65535HBM0
|
|
|
| 2033 notes
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| Amount: | $600 million
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| Maturity: | July 12, 2033
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| Coupon: | 6.087%
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| Price: | Par
|
| Yield: | 6.087%
|
| Spread: | Treasuries plus 215 bps
|
| Call features: | Non-callable
|
| Price talk: | Treasuries plus 245 bps area
|
| Cusip: | 65535HBP3
|
|
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