The Hindu Business Line : Exim Bank raises 23 b Y through Samurai bonds

The five-year Japanese Yen bonds were priced at 62 basis points over Yen Libor, "which is even finer than interest rates on comparable issues in other markets."

The bank said that the response and the rate achieved were "unprecedented" for a debut issuer. "With the strong institutional response to the offering, the issue size was increased from the originally announced Japanese Yen 20 billion to Japanese Yen 23 billion on February 8, one business day before the launch, in accordance with Japanese law," Exim Bank said.

Institutional interest for the issue came from pension funds, insurance companies, asset management companies, banks including foreign banks in Japan. Nearly 70 per cent of the issue was distributed to Japanese investors, with the remainder primarily to other Asian investors.

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