MUFG writes first chapter for TLAC bonds in Asia

Japan (resized 230 x 150)
By Narae Kim
24 Feb 2016

Mitsubishi UFJ Financial Group successfully wrapped up Asia’s first bond that meets total loss-absorbing capacity (TLAC) requirements on Tuesday. By providing a strong benchmark in this new asset class, the transaction is set to encourage more issuance from Japan.

When A1/A/A rated MUFG launched the first TLAC-eligible bond from Asia on Tuesday, there was plenty of debate among market participants about pricing. 

The SEC-registered senior dollar offering was divided into five and 10 year fixed rate notes and a five year floating rate. Active bookrunners Morgan ...

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