NYK announced the below items and conditions for the issuance of its 43rd and 44th unsecured corporate bonds (transition bonds) within the Japanese domestic market, becoming Japan’s first company to issue such bonds, says an article published on their website.
Transition bond
A transition bond is one in which the proceeds are used for the purpose of funding projects that contribute to the company’s long-term transition strategy to reduce greenhouse gas emissions. By issuing transition bonds to secure various funding resources for low carbon, decarbonization solutions, NYK will accelerate its greenhouse gas emission reduction.
Issuance
By issuing $183 million transition bonds to secure various funding resources for low carbon, decarbonization solutions, NYK will accelerate its greenhouse gas emission reduction, the company claims.
This issuance has been selected as the first model case for transition finance by Japan’s Ministry of Economy, Trade and Industry.
NYK issued the first green bonds in the global shipping business sector in 2018, followed by participation in green loans and sustainability linked loans.
Summary
- NYK announced the below items and conditions for the issuance of its 43rd and 44th unsecured corporate bonds.
- A transition bond is one in which the proceeds are used for the purpose of funding projects that contribute to the company’s long-term transition strategy to reduce greenhouse gas emissions.
- By issuing $183 million transition bonds to secure various funding resources for low carbon, decarbonization solutions.
- NYK issued the first green bonds in the global shipping business sector in 2018.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: nyk.com
