New Issue: Nomura prices $3 billion of registered fixed-rate notes in two tranches

By Cristal Cody

Tupelo, Miss., Jan. 10 – Nomura Holdings Inc. priced a $3 billion two-part registered offering of fixed-rate senior notes (Baa1/BBB+) on Thursday, according to a market source and an FWP filing with the Securities and Exchange Commission.

A $1.5 billion tranche of 2.648% notes due Jan. 16, 2025 priced at par to yield a Treasuries plus 100 basis points spread.

The notes were initially talked to print with a spread in the Treasuries plus 115 bps area.

Nomura sold $1.5 billion of 3.103% notes due Jan. 16, 2030 at par to yield a spread of 125 bps over Treasuries.

Initial price talk was in the Treasuries plus 140 bps area.

The revised initial price talk on both tranches was 5 bps tighter than initial guidance.

Nomura Securities International Inc., Citigroup Global Markets Inc., SMBC Nikko Securities America, Inc., BBVA Securities Inc., BNP Paribas Securities Corp., BofA Securities, Inc., Lloyds Securities Inc., Natixis Securities Americas LLC, Standard Chartered Bank and Swedbank AB were the bookrunners.

Nomura held global fixed income investor calls for the deal on Wednesday in the U.S., Europe and Asia markets.

The notes are non-callable.

Proceeds will be used to make loans to subsidiaries, which will use the funds for general corporate purposes.

The financial holding company is based in Tokyo.

Issuer:	Nomura Holdings Inc.
Amount:	$3 billion
Description:	Senior notes
Bookrunners:	Nomura Securities International Inc., Citigroup Global Markets Inc., SMBC Nikko Securities America, Inc., BBVA Securities Inc., BNP Paribas Securities Corp., BofA Securities, Inc., Lloyds Securities Inc., Natixis Securities Americas LLC, Standard Chartered Bank and Swedbank AB
Senior co-manager:	Morgan Stanley & Co. LLC
Co-managers:	ABN Amro Securities (USA) LLC, Banco de Sabadell, SA, Bankia, SA, BMO Capital Markets Corp., BNY Mellon Capital Markets, LLC, Credit Agricole CIB, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, KKR Capital Markets LLC, Mizuho Securities USA LLC, Rabo Securities USA, Inc., Scotia Capital (USA) Inc., Societe Generale and UniCredit Capital Markets LLC
Trade date:	Jan. 9
Settlement date:	Jan. 16
Ratings:	Moody’s: Baa1
	S&P: BBB+
Distribution:	SEC registered
Marketing:	Fixed income investor calls
Five-year notes
Amount:	$1.5 billion
Maturity:	Jan. 16, 2025
Coupon:	2.648%
Price:	Par
Yield:	2.648%
Spread:	Treasuries plus 100 bps
Call feature:	None
Price guidance:	Treasuries plus 115 bps area
10-year notes
Amount:	$1.5 billion
Maturity:	Jan. 16, 2030
Coupon:	3.103%
Price:	Par
Yield:	3.103%
Spread:	Treasuries plus 125 bps
Call feature:	None
Price guidance:	Treasuries plus 140 bps area

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