Japan Bank for International Cooperation (JBIC) fixed terms on 29 September, New York time, for a seven-year euro-denominated fixed-rate bond guaranteed by the Japanese government. The bank said the offering drew demand from investors in Asia, the Americas, the Middle East and Europe.
The terms
The issue is JBIC's 71st series of government-guaranteed foreign bonds. It totals €1.5bn and matures on 7 October 2033 in a single bullet repayment. The coupon is 4.000% a year. The issue price is 99.946, which gives an investor yield of 4.009% a year.
| Term | Detail |
|---|---|
| Issuer | Japan Bank for International Cooperation |
| Guarantor | Government of Japan |
| Size | €1.5bn |
| Maturity | 7 October 2033 (bullet) |
| Coupon | 4.000% a year |
| Issue price | 99.946 |
| Investor yield | 4.009% a year |
| Listing | Luxembourg Stock Exchange |
| Issue (payment) date | 8 October 2026 |
The 4.009% figure is the yield to an investor buying at the issue price. It is not a yield on a Japanese government bond. The guarantee comes from the Japanese government, which JBIC names as guarantor.
Distribution and use of proceeds
The bond is sold in the global bond market and will be listed on the Luxembourg Stock Exchange. Four banks acted as joint lead managers: Daiwa Capital Markets Europe Limited, Barclays Bank PLC, Crédit Agricole Corporate and Investment Bank, and J.P. Morgan Securities plc.
JBIC said the proceeds will fund its general operations. Payment and issue date is 8 October 2026. The release gives no breakdown of demand by region or investor type, and no spread over a benchmark.