Rating: Aa3/A+/AA-
Amount: ¥25bn
Maturity: April 7, 2005
Issue price: 100.25
Coupon: 1.45%
Launched: Wednesday March 29
Sole mgr: Barclays
* BSCH International Ltd
Guarantor: BSCH SA
Rating: Aa3/A+
Amount: ¥45bn
Maturity: April 12, 2005
Issue price: 100.25
Coupon: 1.42%
Launched: Thursday March 30
Sole mgr: Barclays
* Den Danske Bank
Rating: Aa3/A+/AA-
Amount: ¥35bn
Maturity: April 7, 2004
Issue price: 100.225
Coupon: 1.12%
Launched: Thursday March 30
Sole mgr: Barclays Capital
* France Télécom
Rating: Aa2/AA-/AA
Amount: ¥100bn
Maturity: April 3, 2001
Issue price: 100.00
Coupon: 0.27%
Launched: Tuesday March 28
Sole mgr: Tokyo-Mitsubishi International
Bookrunner's comment:
This transaction was targeted towards Japanese institutional investors who have many offerings to put to work for the new fiscal year, which starts on April 1.
We found good demand for the bonds, with very large tickets from less than 10 investors who took up the entire issue.
The buyers wanted money market type instruments and were willing to extend slightly from their typical three month investments.
France Télécom is an attractive name with solid double-A ratings, so was ideally suited to soak up the liquidity.
* SBAB
Rating: A1/AA-
Amount: ¥10bn
Maturity: April 17, 2001
Issue price: 100.00
Coupon: 0.345%
Launched: Wednesday March 29
Sole mgr: Barclays Capital
