JBIC adds JGGI spice but Barclays judged too hot to handle

The Japan Bank of International Co-operation (JBIC) offered investors a rare opportunity to buy Japanese government guaranteed (JGG) debt on Wednesday when it issued a $2bn five year global bond. It also caused a stir as the first evidence of Barclays being dropped from a deal because of the Libor scandal. The deal was originally mandated to Barclays, Bank of America Merrill Lynch and HSBC in May but SSA Markets understands Barclays was dismissed several days before the deal was launched.