Investor Presentaiton
Launch Spread / Investor Distributions (EUR Sustainability Bond)
■DBJ issue Sustainability Bond in EUR annually. In last transaction, the bond was allocated to diverse investors
■Launch spread of the bond was relatively wider than other SSA, and secondary spread performed well after pricing
Issue Details and Distributions of last transaction
Pricing Date
Ratings
Format
Tenor
2023.9.6
A1 (Moody's) / A(S&P)
RegS only / Sustainability Bond
4yr
3.500%
Launch Spread relative to other EUR SSA 4~6y (CY23)
(MS+)
30bp
[JBIC 3.125% 02/28
(5yr) MS+20bp
20bp
DBJ 3.500% 09/27
(4yr) MS+22bp
Coupon (%)
Launch Spread (vs MS)
Issue Amount
Book Size
Region
Type
3.0%
9.0%
88.0%
EURIBOR MS +22bp
30.0%
EUR 500mn
EUR 6,300mn
1.0%
8.0%
24.0%
37.0%
10bp
Obp
-10bp
-20bp
Jan
Feb Mar Apr May Jun Jul Aug Sep Oct
Secondary Spread During 2 weeks after Pricing(1)
(MS+)
23
Pricing@ MS+22bp
22
21
20
19
18
17
76
■ EMEA APAC Americas
■ CB/OI ▪ Bank
-
AM ■ Ins/Pen - Others
16
06/ Sep
08/ Sep
12/ Sep
14/Sep
18/ Sep
20/ Sep
Source(1): Bloomberg BVAL
28
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