Mitsubishi Estate raises 250b yen in biggest bond sale this year
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MITSUBISHI Estate Co raised 250 billion yen (S$3 billion) in the biggest Japanese corporate bond sale so far this year and the latest jumbo offer luring yield-hungry yen fixed income investors with riskier notes.
The four-part deal sold by Japan's largest property developer by market value included 75 billion yen of 60-year notes that can be called after five years, according to a statement on Thursday from sale manager Mitsubishi UFJ Morgan Stanley Securities Co. The bonds sold at a yield of 1.02 per cent, compared with about 0.01 per cent interest on five-year Japanese government notes.
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