Saibu Gas Holdings issued a 10-year bond with an issue size of ¥10 billion and a coupon rate of 3.486%. The launch spread of JGB +58bp attracted demand, and the issue ultimately priced at +58bp. It was the company's first bond issue in 3 years and attracted orders of approximately 1.4 times the issue size.
Terms for Saibu Gas Holdings' 10-year bond were set on the 22nd. The issue has a 10-year maturity and an issue size of ¥10 billion. The coupon rate is 3.486%, the launch spread is JGB +58bp, the reference JGB is issue 384, the maturity date is 28 October 2036, and the pricing benchmark is JGBs.
The bond is rated A+ by R&I and AA- by JCR. Daiwa is the bookrunner, while Nomura, SMBC Nikko, Mitsubishi UFJ Morgan Stanley and Mizuho are the lead managers. It was the company's first bond issue in 3 years. Demand was captured under guidance including JGB +60bp, and the issue priced at +58bp, the lower end of the marketing range. Orders reached approximately 1.4 times the ¥10 billion issue size.
The transaction marked Saibu Gas HD's first bond issue since October 2023 and attracted attention as the market assessed future conditions. Market participants may focus on the company's record of issuing similar long-term bonds and trends in its funding costs.
The article contains no inferences or forecasts of future price movements beyond the official figures published in the article.