By William Gullotti
Buffalo, N.Y., June 8 – The Metropolis of Tokyo priced $500 million of 3.375% three-year bonds (A+) at 99.929 on Tuesday, according to a listing notice with an appended offering circular.
The bonds may only be redeemed early for taxation reasons at par plus interest.
Goldman Sachs International, Barclays Bank plc, Citigroup Global Markets Ltd. and Morgan Stanley & Co. International plc are the joint lead managers for the Regulation S and Rule 144A offering.
Proceeds will be used for general metropolitan purposes.
Listings for the bonds will become effective June 17 on both the London Stock Exchange and the Tokyo Stock Exchange.
The issuer is the metropolitan government of Tokyo.
| Issuer: | Metropolis of Tokyo
|
| Amount: | $500 million
|
| Issue: | Bonds
|
| Maturity: | June 16, 2025
|
| Joint lead managers: | Goldman Sachs International, Barclays Bank plc, Citigroup Global Markets Ltd. and Morgan Stanley & Co. International plc
|
| Counsel to issuer: | Nagashima Ohno & Tsunematsu (Japan), Davis Polk & Wardwell LLP (U.S.)
|
| Counsel to underwriters: | Clifford Chance (Gaikokuho Kyodo Jigyo) (England), Clifford Chance (U.S.)
|
| Coupon: | 3.375%
|
| Price: | 99.929
|
| Call: | For taxation reasons only at par plus interest
|
| Pricing date: | June 7
|
| Issue date: | June 16
|
| Listing date: | June 17
|
| Rating: | S&P: A+
|
| Distribution: | Rule 144A and Regulation S
|
| Cusip: | 59173LAF7
|
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