Yahoo Japan Prices $2.1 Billion Jumbo Bonds as Yields Slide
- Web portal operator prices its biggest-ever debt offering
- Spreads on notes cheap compared with similarly-rated notes: BI
Photographer: Akio Kon/Bloomberg
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Yahoo Japan Corp., operator of the nation’s biggest web portal by user numbers, sold 230 billion yen ($2.1 billion) of yen bonds on Thursday, tapping investor hunger for positive spreads as underlying interest rates become more negative.
It’s the biggest sale of senior notes targeting professional investors in the yen market this fiscal year, according to data compiled by Bloomberg. Yahoo Japan’s four-part deal, by far its largest ever, included three-year debt paying a coupon of 0.04%.