By Andrei Skvarsky.
Pan-African trade finance lender Afreximbank has put bonds worth a total of 81.3bn yen ($523m) on the Japanese debt market in a debut project.
The bank’s issue of so-called Samurai bonds -– yen-denominated securities issued by a non-Japanese company – consists of two lots: two-, three-, five-, seven- and 10-year regular bonds priced at 67.2bn yen ($432m) and three-year retail securities valued at 14.1bn yen ($91m), according to a statement from Afreximbank (the African Export-Import Bank).
The statement said nearly 150 orders had come in for the regular bond offering.
It said the Cairo-headquartered bank had met its objectives of achieving a benchmark transaction of more than 30bn yen ($193m) and floating bonds of comparatively long tenors in Japan’s market, where typically, the bank said, debut bonds of a maximum tenor of about two years have been on sale.
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