YEN

摘要

Barclays plc, the holding company of the Barclays group, on Thursday priced a ¥60bn (US$497m) three-tranche Samurai, in a deal that set a strong tone for other European banks looking to raise debt at the holdco level. Other banks have issued holdco Samurais, but the Triple B rating of Barclays' paper provided a new test for the market. A three-year fixed tranche of ¥14bn priced at yen offer-side swaps plus 45bp, and a five-year fixed tranche of ¥42bn priced at 57bp over. These were the tight ends of guidance ranges of 45bp-47bp and 57bp-59bp, respectively. On the back of strong investor demand, which totalled close to ￥100bn across the tranches, involving more than 150 orders, a five-year floater of ¥4bn was added. That priced at three-month yen Libor plus 61bp, also at the tight end of the 61bp-63bp range.