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NYK reveals T&C of $90.3 million ‘Green Bonds’

20 May 2018

Japanese shipping firm NYK Friday (18 May) revealed the terms and conditions of the Nippon Yusen Kaisha 40th Issuance of Corporate Debenture Bonds (with inter-bond pari passu clause), also known as the NYK Green Bonds.

NYK is the world’s first company to issue Green Bonds in global shipping business sector. A green bond is one in which the proceeds are used solely for the purpose of funding environment-friendly projects.

Such projects include the development of liquefied natural gas (LNG) fuelled ships, LNG bunkering vessels, ballast water treatment equipment, and SOx (sulphur oxides) scrubber systems.

Details of the NYK Green Bonds are as follows:
 

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.)

Related: NYK to issue $93 million worth of ‘Green Bonds’

Photo credit: JAXPORT
Published: 21 May, 2018

 

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