Luxembourg-based CPI Property Group SA marked its first ever Japanese yen bond offering with the issuance of ¥11 billion of bonds on the Tokyo Pro Bond market.
CPI is the first European real estate company to complete a public bond offering in Japan and the first non-financial issuer on the local bond market, according to a release.
The offering forms part of the company's euro medium-term note program and comprises two tranches: ¥8 billion of 1.414% notes due Dec. 10, 2021, and ¥3 billion of 1.995% notes due Dec. 8, 2028.
Nomura International and Société Générale served as joint book runners for the issuance.
As of Dec. 10, US$1 was equivalent to ¥112.94.