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Bonds

Japan's MUFG to float $2bn in AT1 bonds

Megabank responds to investor demand for controversial debt instrument

Mitsubishi UFJ Financial Group delayed issuing fresh AT1 bonds following the collapse of Credit Suisse. (Photo by Yo Inoue)

TOKYO -- Mitsubishi UFJ Financial Group, Japan's leading bank, will issue 330 billion yen ($2.3 billion) in Additional Tier 1 bonds, roughly triple the amount considered earlier, in response to growing investor demand.

MUFG formally sets the terms of the float Friday. The yen-denominated AT1 bonds will be issued with five- and 10-year call options.

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