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Green Bond
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) |
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| Acquired rating | R&I：A+／JCR：AA-／Moody’s：Baa2 |
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| 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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| Reporting | Annual Report of Green Bond is scheduled for publication | |