YEN

摘要

Bpce priced the second Basel Ⅲ-compliant Tier 2 bond in the Samurai market, helping to raise awareness about the new instrument among cautious Japanese investors. The French bank's Y48.3bn T2 offering comprised a ¥27.2bn 10-year fixed tranche that priced at 154bp over yen offer-side swaps at 2.047%; a ¥13.2bn 10-year floater at 161bp over three-month yen Libor; and a ¥7.9bn 10-year non-call five at 169bp over swaps for the first five years at 1.943%, and 169bp over six-month yen Libor thereafter.