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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