Japan's Nidec plans JPY-100bn green bond issuance

Japanese yen bills. Author: Japanexperterna.se. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.

November 11 (Renewables Now) - Japanese electric motor manufacturer Nidec Corp (TYO:6594) plans to issue about JPY 100 billion (USD 917m/EUR 832m) in green bonds in the latter half of November, it announced on Sunday.

The company said in a statement it will use the net proceeds from the offering to finance its facilities and research and development (R&D) activities related to the design and manufacture of traction motors for electric vehicles (EVs).

According to Nidec, this would be the largest corporate green bond ever issued in Japan. More details are available in the table below.

Series 9th Series 10th Series 11th Series
Total Principal Amount JPY 50bn JPY 30bn JPY 20bn
Issuance Period 3 years 5 years 7 years

Mitsubishi UFJ Morgan Stanley Securities Co Ltd serves as the structuring agent for the offering. It will also act as lead manager in addition to Daiwa Securities Co Ltd, SMBC Nikko Securities Inc, Goldman Sachs Japan Co Ltd and JPMorgan Securities Japan Co Ltd.

(JPY 100 = USD 0.917/EUR 0.832)

More stories to explore
Share this story
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription