MUFG Sells First Dollar AT1 Bond Offering by Japanese Bank (2)

Mitsubishi UFJ Financial Group Inc. on Wednesday priced the first dollar-denominated Additional Tier 1 bond by a Japanese lender, in a move that could help mitigate currency funding risks.

The nation’s largest bank sold $750 million of the subordinated notes callable after 5.25 years to yield 8.2%, according to a person familiar with the matter, after initial price guidance of 8.75% to 8.875%. Dealers gathered orders for $11.5 billion at the peak, according to a person with knowledge of the matter.

Overseas investor demand was strong with $7.25 billion in indications of interest at the New York market open, ...