YEN

摘要

Macquarie bank has become the first Australian issuer to sell Pro-Bonds in Japan in a tightly priced offering, which raises hopes that the format is gaining traction. The offer involved two tranches, totalling Y34.1bn (US$280m), with a ¥3.2bn three-year bond priced to yield 13bp over yen offer-side swaps and a ¥30.9bn five-year to yield 25bp over swaps. The coupons for the two tranches are 0.353% and 0.563%, respectively. The size was larger than bankers away from the issuance had expected, mostly due to support from strategic investors, such as the Development Bank of Japan, as well as other major Samurai investors like city banks.