Japan’s Electric Power Development Co Ltd, known as J-Power, today unveiled the terms and conditions to issue JPY 20 billion (USD 192.8m/EUR 159m) worth of green bonds in its first offering of such securities in the domestic market.
Funds from the placement will enable J-Power to support the development, construction, operation and improvement of its clean energy projects and assets, the company previously said.
The offering and subscription started on January 15 with closure set for January 21, 2021. As part of the proposed transaction, J-Power will issue green bonds with a 10-year maturity, scheduled for January 20, 2031.
The securities have an interest payment date set for January 20 and July 20 of each year at an annual coupon rate of 0.350%.
Mizuho Bank Ltd was appointed as trustee, while SMBC Nikko Securities Co Ltd, Mizuho Securities Co Ltd and Daiwa Securities Co Ltd will act as lead managers.
J-Power is active in the Japanese and overseas renewables industry with wind, solar, biomass and hydropower plants.
Source: Renewables Now