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Commentary & Deal Flow

PRICED: Mitsubishi UFJ Financial Group €500m 8NC7 Sr Unsec; MS+93bp

IGC European Market: Deal Flow - General

Issuer

Term

Call

Coupon

Maturity

Size

Ranking

Type

Price

Yield

Spread

IPT-PXD

Mitsubishi UFJ Financial Group

8NC7

7y

3.856%

22-Apr-34

€500m

Sr Unsec

Fixed to Floating

100

3.856%

MS+93

-34.5



Reoffer: 8NC7: MS+93bp / 100 / 3.856%
Benchmark: 8NC7: DBR 2.3% 15-Feb-33 @ B+101.4

Final Books: Above €4.8bn. Peak book >€5bn

Launched: 8NC7: €500m @ MS+93bp
Guidance: 8NC7: MS+95a (+/- 2bps WPIR) - Books >€5bn
IPTs: 8NC7:MS+125/130bp

  • Issuer: Mitsubishi UFJ Financial Group, Inc.
  • Ticker: MUFG
  • Country: JP
  • Issuer Ratings: A1/A-/A- (Moody's/S&P/Fitch)
  • Expected Security Ratings: A1/A-/A- (Moody's/S&P/Fitch)
  • Format: Reg S
  • Size: €500m
  • Ranking: Senior Unsecured
  • Settlement Date: 22-Apr-26 (T+7)
  • Maturity Date: 22-Apr-34
  • Issuer Call Date: 22-Apr-33
  • Coupon: 3.856%, payable annually until call date; thereafter floating, payable quarterly
  • Day Count Basis:
    • Fixed: Act/Act (ICMA)
    • Floating: Act/360
  • Joint Lead Managers: Morgan Stanley, MUFG Securities (B&D)
  • Listing: Luxembourg Euro MTF
  • Documentation: Issuer’s MTN Programme dated 08-Aug-25
  • Denominations: €200,000 x €1,000
  • Governing Law: English Law
  • Target: Eligible counterparties and professional investors only (all distribution channels)
  • Stabilisation: FCA/ICMA stabilisation