Commentary & Deal Flow

Japan Bank for International Cooperation (JBIC), guaranteed by Japan, (country: JP) expected rating A1/A+ (Moody's/S&P), has mandated Barclays, Citigroup, Daiwa Capital Markets Europe, and J.P. Morgan for its upcoming benchmark 5 year fixed rate EUR SEC-registered global bond offering.

The transaction will be launched in the near future, subject to market conditions and MOF approval.

• Listing: The notes are expected to be admitted to trading on the Euro MTF Market of the Luxembourg Stock Exchange.
• Denominations: €100k and integral multiples of €1k in excess thereof.
• Eurosystem Eligibility: The notes are intended to be held in a manner that would allow eligibility as collateral for Eurosystem intra-day credit and monetary policy operations.
• Target Market: MiFID II / UK MiFIR professionals/ECPs-only.
• PRIIPs/KID: No PRIIPs key information document (KID) will be prepared as not available to retail investors in EEA and no UK PRIIPs DISC disclosure document will be prepared as not available to retail investors in the UK.
• Stabilisation: FCA/ICMA.
• Sales Restrictions: Sales into Canada: YES, Sales into Italy: YES.