Today's LIBOR Rates
1 M |
0.31563 |
 |
3 M |
0.47500 |
|
6 M |
0.68794 |
|
1 YR |
1.06438 |
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Westpac Sells LIBOR-based Bond Tranche |
January 15, 2010
According to Reuters, Westpac, Australia’s number two lender, has included a LIBOR-based tranche in its new samurai bond issue. LIBOR stands for London Interbank Offered Rate and is a filtered average of rates that banks charge each other for short-term unsecured loans. Samurai bonds are yen-denominated financial instruments sold by non-Japanese companies.
Within the ¥113 billion samurai bond issue, Westpac is offering a tranche of approximately ¥17 billion with a yield of LIBOR plus 60 basis points. Citigroup Global Markets Japan Inc., Daiwa Securities Capital Markets Co. and Mizuho Securities Co. are participating financial institutions. During 2009, LIBORATED.com reported LIBOR-based samurai bond offerings including one from SEK (Swedish Export Credit Corp.) with a ¥8.5 billion tranche at LIBOR plus 40 basis points.