Development Bank of Japan

  • News Release
  • December 1, 2004
  • Development Bank of Japan Inc.

Development Bank of Japan Bond (FILP agency bond) Issues No. 17

1. Overview

On December 1, 2004, DBJ (Governor: Takeshi Komura) decided on terms for issuing No. 17 FILP agency bonds (publicly issued bonds without government guarantee).

2. Bond issue details

Issue
amount
\20.0 billion
Term 7-year (December 20, 2011 redemption)
Coupon rate 1. 05%
Issue price \99.98
Collateral General collateral
Issue date December 14, 2004
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 Mizuho Securities Co., Ltd.
and Goldman Sachs Japan Co. Ltd. , Tokyo Branch

3. Issues Expected during the Fiscal Year

In fiscal 2004, 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 \180.0 billion.) As in fiscal 2003, DBJ's policy on bond issues calls primarily for issuing five-year and 10-year bonds on essentially a quarterly basis, taking market conditions and other factors into account.


Reference:

History of FILP agency bond issuance

  Date terms
determined
Term Issue
amount
Interest
rate
Issue price Investor
yields
Spread against
JGBs at launch
No. 1 bonds 01/09/11 5-year \50.0 billion 0.60% \99.99 0.603% +10bp
No. 2 bonds 02/01/22 5-year \50.0 billion 0.78% \99.96 0.787% +10bp
No. 3 bonds 02/04/08 5-year \50.0 billion 0.67% \99.98 0.673% +10bp
No. 4 bonds 02/07/17 5-year \50.0 billion 0.52% \99.98 0.523% +9bp
No. 5 bonds 02/10/10 10-year \50.0 billion 1.23% \99.93 1.238% +11bp
No. 6 bonds 03/01/15 5-year \50.0 billion 0.41% \99.98 0.413% +7bp
No. 7 bonds 03/04/10 10-year \60.0 billion 0.78% \99.95 0.785% +10bp
No. 8 bonds 03/07/30 5-year \50.0 billion 0.40% \99.96 0.407% +5bp
No. 9 bonds 03/10/16 10-year \50.0 billion 1.58% \99.99 1.581% +12bp
No. 10 bonds 03/12/03 7-year \20.0 billion 1.17% \99.94 1.178% +10bp
No. 11 bonds 03/12/03 15-year \10.0 billion 1.83% \99.94 1.834% +17bp
No. 12 bonds 04/01/22 5-year \50.0 billion 0.68% \99.99 0.681% +11bp
No. 13 bonds 04/04/16 10-year \50.0 billion 1.59% \99.96 1.594% +8bp
No. 14 bonds 04/07/27 5-year \50.0 billion 0.99% \99.96 0.998% +9bp
No. 15 bonds 04/08/24 4-year \30.0 billion 0.64% \99.99 0.642% +7bp
No. 16 bonds 04/10/15 10-year \50.0 billion 1.52% \99.97 1.523% +8bp
No. 17 bonds 04/12/01 7-year \20.0 billion 1.05% \99.98 1.052% +6bp