MOL Sets Conditions for Issue of ‘Sustainability’ Bonds

0
157

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced that it has determined the conditions concerning the issue of sustainability bonds (its 22nd, 23rd, and 24th series of unsecured corporate bonds), which was announced on June 28, 2019, as follows. It also announced the parties that have pledged to invest in the bonds under those conditions, as outlined below.

[Outline of Sustainability Bonds]

22nd
Series
Unsecured
Corporate Bonds

23rd
Series
Unsecured
Corporate Bonds
24th
Series
Unsecured
Corporate Bonds
(Retail Bonds)
Name
of
bonds
Mitsui O.S.K.
Lines, Ltd.
22nd series of
unsecured corporate bonds
(with special
conditions regarding the same
rank among straight bonds)
Mitsui O.S.K.
Lines, Ltd.
23rd series of
unsecured corporate bonds
(with special
conditions regarding the same
rank among straight bonds)
Mitsui O.S.K.
Lines, Ltd.
24th series of
unsecured corporate bonds
(with special
conditions regarding the same
rank among
straight bonds)
(a.k.a: MOL Blue Ocean Sustainability Bonds)
Issued amount¥5.0 billion¥5.0 billion¥10.0 billion
Amount
of each bond
¥100 million¥100 million¥100,000
Date of maturityJuly 19, 2023July 18, 2025July 29, 2025
Interest rate0.32%
per annum
0.49%
per annum
0.49%
per annum
Interest
payment date
January 19
and July 19
every year
January 19
and July 19
every year
January 29
and July 29
every year
Payment at
maturity
¥100 per each
¥100 of face
value
¥100 per each
¥100 of face
value
¥100 per each
¥100 of face
value
Closing dateJuly 19, 2019July 19, 2019July 29, 2019
Subscription
date/period
July 12, 2019July 12, 2019From July 16 to July 26, 2019
Co-lead
managers
Daiwa Securities Co., Ltd., SMBCNikko Securities
Inc.
Daiwa Securities Co., Ltd.,
Mizuho Securities Co., Ltd.
Daiwa Securities Co., Ltd.,
Mizuho Securities Co., Ltd.
Collateral/guaranteeThese bonds are unsecured and carry no guarantees. Also, no particular assets have been placed in reserve to cover these bonds.These bonds are unsecured and carry no guarantees. Also, no particular assets have been placed in reserve to cover these bonds.These bonds are unsecured and carry no guarantees. Also, no particular assets have been placed in reserve to cover these bonds.
Bond ratingA- (Japan Credit Rating Agency, Ltd.)A- (Japan Credit Rating Agency, Ltd.)A- (Japan Credit Rating Agency, Ltd.)

[Parties that have pledged to invest in MOL sustainability bonds]
Following is the list of investors that have pledged to invest in the green bonds as of today:

< List of investors (alphabetical order) >

・Aichi Shinkin Bank

・Azuma Shinyoukumiai

・Abukuma Shinkin Bank

・Amagasaki health medical care foundation

・Awa Agricultural Co-operative

・Osaka Shinkin Bank

・OSAKA DOCTORS CREDIT UNION

・THE KAGAWA BANK,Ltd.

・KITAMI SHINKIN BANK

・Kinki Labour Bank

・THE SHIGA BANK,LTD.

・Shikoku Labour Bank

・SHINONOME SHINKIN BANK

・Suwa Shinkin Bank

・Zentouei Shinyokumiai

・Daido Fire & Marine Insurance Co., Ltd.

・Daitokyo Shinyokumiai

・Taiyo Life Insurance Company

・Tanyo Shinkin Bank

・Tokyo University of Marine Science and Technology

・TOKYO KEIZAI UNIVERSITY

・TOKOHA University Educational Foundation

・DOKKYO GROUP OF ACADEMIC INSTITUTIONS

・Toyamaken Ishishinyokumiai

・Nara Shinkin Bank

・Numazu Shinkin Bank

・Hanno-Shinkin Bank

・The Hiroshimaken Credit Cooperative

・Fukoku Mutual Life Insurance Company

・Hokkaido Labour Bank

・The Mishima Shinkin Bank

・THE YUKI SHINKIN BANK

・Ryoubi Shinyo Kumiai     

(Note 1)
Please refer to the following release on MOL’s initiative on issue of sustainability bonds: June 28, 2019 press release: MOL to Issue Sustainability Bonds. MOL also acquired the rating “SU1,” the highest rating in “JCR Sustainability Finance Evaluation” effective July 12, 2019 from the Japan Credit Rating Agency, Ltd. with the objectives of ensuring eligibility and transparency of the sustainability bonds and increase their appeal to investors. The Evaluation can be referred from this link.