Development Bank of Japan

  • News Release
  • July 30, 2003
  • Development Bank of Japan Inc.

Development Bank of Japan Bond (FILP agency bond) Issues No. 8

1. Overview

On July 30, 2003, DBJ (Governor: Takeshi Komura) decided on terms for issuing No. 8 FILP agency bonds (publicly issued bonds without government guarantee).

2. Bond issue details

Issue
amount
\50.0 billion
Term 5-year (September 22, 2008 redemption)
Coupon rate 0. 40%
Issue price \99.96
Collateral General collateral
Issue date August 12, 2003
Ratings Rating and Investment Information, Inc. AAA
Japan Credit Rating Agency, Ltd. AAA
Moody' Investor Service Inc. A2
Standard and Poor's (S&P) AA-
Lead-managing underwriters Co-lead managers Nikko Citigroup Limited and Goldman Sachs Japan Co. Ltd.

3. Issues Expected during the Fiscal Year

In fiscal 2003, DBJ plans to place its largest bond issue to date. We plan to issue \240.0 billion in bonds without a government guarantee (FILP agency bonds). (Prior to this issue, the DBJ's issue totaled \60.0 billion.) Taking market conditions and other factors into account, in principle DBJ plans to issue five-year and 10-year bonds on a quarterly basis. We plan to increase the issue amount during the fiscal year (an increase of ¥40.0 billion compared with fiscal 2002) through spot bond issues in addition to regularly scheduled bond issues.


Reference:

History of FILP agency bond issuance

  Date terms
determined
Term Issue
amount
Investor
yields
Issue price Spread against
JGBs at launch
No. 1 bonds 01/9/11 5-year \50.0 billion 0.603% \99.99 JGB+10bp
No. 2 bonds 02/1/22 5-year \50.0 billion 0.787% \99.96 JGB+10bp
No. 3 bonds 02/4/8 5-year \50.0 billion 0.673% \99.98 JGB+10bp
No. 4 bonds 02/7/17 5-year \50.0 billion 0.523% \99.98 JGB+9bp
No. 5 bonds 02/10/10 10-year \50.0 billion 1.238% \99.93 JGB+11bp
No. 6 bonds 03/1/15 5-year \50.0 billion 0.413% \99.98 JGB+7bp
No. 7 bonds 03/4/10 10-year \60.0 billion 0.785% \99.95 JGB+10bp
No. 8 bonds 03/7/30 5-year \50.0 billion 0.407% \99.96 JGB+5bp