BNP Paribas to plan $597m sale of Samurai bonds

BNP Paribas SA, France’s biggest bank, plans to sell at least ¥50 billion($597 million) of Samurai bonds tomorrow, according to a person with direct knowledge of the transaction. The lender told investors it plans to sell at least ¥30bn of five-year, fixed-rate bonds priced to yield 40 basis points more than the yen swap rate, said the person, asking not to be identified as the information is private. BNP Paribas also plans to sell at least ¥20bn of similar-maturity, floating-rate notes yielding 55 basis points more than the three-month London interbank offered rate for yen, said the person. Mitsubishi UFJ Morgan Stanley Securities Co and Mizuho Securities Co are helping BNP Paribas Securities (Japan) Ltd with the sale, the person said. Samurai bonds are yen-denominated notes sold in Japan by overseas borrowers. A basis point is 0.01 percentage point.