Rabobank Plans Japan’s 1st Basel III Samurai Bond Sale This Week
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Rabobank Groep is set to issue the first Samurai bonds that comply with tougher regulations aimed at preventing bank bailouts by taxpayers.
The Dutch lender, which was the biggest seller of the yen notes offered by overseas issuers in 2013 and 2012, may offer subordinated Samurais compliant with Basel III regulations as early as this week, Mizuho Securities Co., one of the co-managers of the deal, said by fax today. Rabobank is marketing the 10-year debt at a yield premium of 80 to 85 basis points over yen swaps, according to two people familiar with the deal, who asked not to be identified because the matter is private.