By William Gullotti and Cristal Cody
Buffalo, N.Y., May 24 – The Tokyo Metropolitan Government priced $500 million of 4.625% three-year notes at a spread of 84 basis points over SOFR mid-swaps on Tuesday, according to information provided by a market source.
Alternatively, the notes priced at Treasuries plus 68.84 bps. Initial price talk was in the mid-swaps plus 90 bps area, later revised to guidance in the mid-swaps plus 87 bps area.
Barclays, Citigroup, Goldman Sachs and Morgan Stanley are the bookrunners.
The issuer is the metropolitan government of Tokyo.
| Issuer: | Tokyo Metropolitan Government
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| Amount: | $500 million
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| Issue: | Notes
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| Maturity: | June 1, 2026
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| Bookrunners: | Barclays, Citigroup, Goldman Sachs and Morgan Stanley
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| Coupon: | 4.625%
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| Spread: | SOFR mid-swaps plus 84 bps, or Treasuries plus 68.84 bps
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| Pricing date: | May 23
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| Initial guidance: | SOFR mid-swaps plus 90 bps area, revised to SOFR mid-swaps plus 87 bps
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