The JPY 50 billion 7-year paper pays a fixed coupon of 1.67 % p.a., equalling to JPY Libor + 0.1%.

Samurai # 4
Amount:   JPY 50 billion
Tenor:  7 years
Maturity:  March 18, 2013.
Coupon:   1.67 % p.a.
Issue price:  100 %
Spread:  JPY Libor + 10 bps

The deal was lead managed by Daiwa Securities SMBC Co Ltd and Nikko Citigroup Limited. As a result of the strong investor demand the size was increased from the original JPY 25 billion, a move by which the Republic has successfully widened its international investor base. The proceeds will be used for general funding purposes.

March 7, 2006