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)