January 24 (Renewables Now) - Japanese financial services conglomerate Orix Corp (TYO:8591) today unveiled plans to issue JPY 10 billion (USD 91.3m/EUR 82.5m) worth of green bonds in its first offering of such securities in the domestic market.
Funds from the placement will enable Orix to support its solar power generation business, through which the Japanese firm is taking care of the development and operation of around 1,000 MW of power plants at home.
The settlement date for the offering is January 30, 2020. As part of the proposed transaction, Orix will issue green bonds at a price of JPY 100 apiece, enabling it to diversify its fund procurement. The securities will have an annual interest rate of 0.190% and will mature in five years, on January 30, 2025.
Orix is active in the renewables industry through its Environment and Energy Business, which is involved in the wind, solar, geothermal and biomass sectors. In 2018, the company set up a new company -- Orix Renewable Energy Management Corp -- to deliver operation and maintenance (O&M) services for renewable energy plants.
(JPY 100 = USD 0.913/EUR 0.825)