Update : Dec. 13, 2012
[Tokyo Stock Exchange, Inc.]
Today, Tokyo Stock Exchange approved a yen-denominated bond with a total value of JPY 175.9 billion (Fixed-interest corporate bond: JPY 164.5 billion, Floating-interest corporate bond: JPY 11.4 billion) from ING Bank N.V. (Bijlmerplein 888 1102 MG Amsterdam Zuid-Oost, The Netherlands, http://www.ing.com) for listing on the professional-oriented bond market, i.e. TOKYO PRO-BOND Market. The yen-denominated bond, with a value of JPY 175.9 billion, is the largest of the year in the yen-denominated foreign bond market, as well as the largest issuance from a European issuer. Also, as an individual bond, its fixed-interest corporate bond component (JPY 164.5 billion, 0.96%) is the largest issued value in history.
ING Bank N.V. has registered program information for 1 year following March 30, 2012 with an issuance limit of JPY 400 billion (the issuance limit of JPY 200 billion was raised to JPY 400 billion on December 11, 2012). Following the listing of an initial series of bonds with a value of JPY 50.7 billion on April 16, 2012, this listing will be the second series of individual bonds in the same program. The lead underwriters of this bond are Barclays Securities Japan Limited, Mizuho Securities Co., Ltd, and Nomura Securities Co., Ltd.. The subscription period will conclude on December 19, 2012, with listing following on December 20th. Moreover, details on the issuance conditions of this bond can be found in the Specified Securities Information (Supplement) of the TOKYO PRO-BOND Market website (http://www.tse.or.jp/english/rules/probond/publication-company/latest-publication.html).
Mr. Yasuyuki Konuma, Executive Officer and Director of the New Listings Department of Tokyo Stock Exchange, commented. "We are delighted with this ING Bank N.V. listing which is expected to be this year's largest yen-denominated foreign bond on TOKYO PRO-BOND Market. The flexibility and freedom of TOKYO PRO-BOND Market has been extremely well-received by issuers and investors, which has allowed us to realize this year's largest issuance. Moving forward, we will continue supporting the diversification of fund-raising methods for domestic and overseas corporations, while providing new investment opportunities to professional investors."
TOKYO PRO-BOND Market was established in March 2012 as a professional-oriented bond market based on the "Professional-oriented Market Rules" introduced in an amendment to the Financial Instruments and Exchange Act in 2008. The market implements program listing, the standard form of corporate bond issuance in overseas market, and English-only information disclosure. Program listing refers to a system where the fund-raising issuer registers the possible issuance amount, basic information, and financial information on TOKYO PRO-BOND Market as program information, following which it is able to issue bonds as needed within the estimated issuance amount. The market's highly flexible rules offer efficient bond issuance through simplified disclosure documents, and convenient formal requirements, such as acquiring a credit rating as the listing eligibility requirements for program information and individual bonds and securing a lead underwriter(s) specified by the exchange. As of December 13, 2012, 3 programs are listed.
Tokyo Stock Exchange, Inc.
New Listing Department