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|
|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