Green Bond

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Summary of the Green Bond

Bond name Nippon Steel Corporation 7th, 8th Series Unsecured Straight Bonds (Green Bond)
Maturity of Issuance 5 year 10year
Issuance amount 30 billion JPY 20 billion JPY
Interest rate 0.564% per annum 1.150% per annum
Date of issuance March 9, 2023
Redemption date March 17, 2028 March 18, 2033
Use of proceeds Funds for production facilities for non-oriented electrical steel sheets for eco-friendly car motors at the Hirohata Area of Setouchi Works and the Yawata Area of Kyushu Works. (A part of the proceeds will be allocated to replenish cash reserves previously used to fund the construction of the cited production facilities)
Acquired rating R&I:A+/JCR:AA-/Moody’s:Baa2
Framework
Evaluation of the green bondy’s suitability The Framework has obtained a second-party opinion from Rating and Investment Information, Inc., a third-party evaluation organization, stating that it complies with ICMA’s “Green Bond Principles 2021” and the “Green Bond Guidelines” (2022 edition) issued by the Japanese Ministry of the Environment Part of the expenses incurred in obtaining external evaluation of the Green Bond were subsidized under the Japanese Ministry of the Environment’s "Financial Support Program for Green Bond Issuance.
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