EFIC JPY500m 18yr CMS Linked Note

By: Sonia Han | posted March 17th, 2010 12:42

Australia’s export credit agency EFIC raised JPY500 million in a structured private placement trade on Monday.

Details are:

Issuer: Export Finance &Insurance Corporation
Amount: JPY500m
Facility: Non-Call 16 months Constant Maturity Swap Linked Note

Launch Date: 15 March 2010
Pricing Date: 15 March 2010
Settlement Date: 25 March 2010
Maturity Date: 12 January 2028

Coupon: 2pct (For the first 10 months before switching to a semi-annual CMS Linked structured coupon).
• The proceeds were swapped to floating rate USD at a sub 3-month LIBOR margin.

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