ANA bond sale raises higher-than-expected 30b yen

[TOKYO] ANA Holdings Inc's victory over rival Japan Airlines Co in bidding for international flight slots from downtown Tokyo helped the nation's largest carrier triple the size of its first bond sale in two years.

Demand for the 10-year bond offering on Feb 28 exceeded expectations, helping the company raise 30 billion yen (S$367.5 million) at a record-low yield of 1.22 per cent, versus the originally planned issuance of 10 billion yen, ANA's spokesman Hideya Oishi said.

That compares with a 1.46 per cent average for similar-maturity debt sold by Japanese corporate borrowers, while companies worldwide pay 4.7 per cent, according to Bank of America …