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Terms and Conditions of NYK’s Green Bonds Determined

Yesterday, NYK announced that it has determined the below terms and conditions for the issuance of its 40th corporate debenture bonds, unsecured straight bonds.

40th Issuance of Corporate Debenture Bonds (NYK green bond)

Bond name   Nippon Yusen Kaisha 40th Issuance of Corporate Debenture Bonds (with inter-bond pari passu clause)
Issue Amount   10 billion yen
Maturity   5 years
Coupon rate   0.290% per annum
Amount to be paid   100 yen per 100-yen corporate debenture bond
Payment date   May 24, 2018
Maturity date   May 24, 2023
Payment method   Bullet maturity (depreciable by purchase)
Subscription method   Open invitation
Secured or unsecured   Unsecured
Bond rating   A  (Japan Credit Rating Agency, Ltd.)

In April and early May, NYK announced its intention to issue green bonds and the efforts being made to ensure transparency. (See press releases below.)

In accordance with the new medium-term management plan “Staying Ahead 2022 with Digitalization and Green” that NYK announced in March, the company aims to integrate environmental, social, and governance (ESG) principles into management strategies to contribute to the sustainable development of society and enrichment of the company’s corporate value.

* Green bond
A bond whose proceeds are used solely for the purpose of funding environment-friendly projects.
Source: NYK Line

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