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  • News Release
  • April 15, 2005
  • Development Bank of Japan Inc.

Development Bank of Japan Bond (FILP agency bond) Issues No. 19

1. Overview

On April 15, 2005, DBJ (Governor: Takeshi Komura) decided on terms for issuing No. 19 FILP agency bonds (publicly issued bonds without government guarantee).

2. Bond issue details

Issue
amount
\50.0 billion
Term 10-year (March 20, 2015 redemption)
Coupon rate 1. 40%
Issue price \99.97
Collateral General collateral
Issue date April 28, 2005
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 Daiwa Securities SMBC Co. Ltd.
and Goldman Sachs Japan Co. Ltd., Tokyo Branch

3. Issues Expected during the Fiscal Year

In the first half of fiscal 2005, 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). As in fiscal 2004, 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. Plans also call for spot bond issues in addition to regularly scheduled bond issues as market conditions and other factors dictate.


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 01/9/11 5-year \50.0 billion 0.60% \99.99 0.603% +10bp
No. 2 bonds 02/1/22 5-year \50.0 billion 0.78% \99.96 0.787% +10bp
No. 3 bonds 02/4/8 5-year \50.0 billion 0.67% \99.98 0.673% +10bp
No. 4 bonds 02/7/17 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 03/1/15 5-year \50.0 billion 0.41% \99.98 0.413% +7bp
No. 7 bonds 03/4/10 10-year \60.0 billion 0.78% \99.95 0.785% +10bp
No. 8 bonds 03/7/30 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 03/12/3 7-year \20.0 billion 1.17% \99.94 1.178% +10bp
No. 11 bonds 03/12/3 15-year \10.0 billion 1.83% \99.94 1.834% +17bp
No. 12 bonds 04/1/22 5-year \50.0 billion 0.68% \99.99 0.681% +11bp
No. 13 bonds 04/4/16 10-year \50.0 billion 1.59% \99.96 1.594% +8bp
No. 14 bonds 04/7/27 5-year \50.0 billion 0.99% \99.96 0.998% +9bp
No. 15 bonds 04/8/24 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 04/12/1 7-year \20.0 billion 1.05% \99.98 1.052% +6bp
No. 18 bonds 05/1/19 5-year \40.0 billion 0.62% \99.95 0.629% +6bp
No. 19 bonds 05/4/15 10-year \50.0 billion 1.40% \99.97 1.403% +7.5bp
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