Mitsubishi Materials Corporation ("MMC") has established the Transition-Linked Finance Framework ("the framework") to promote our efforts to achieve carbon neutrality. Based on the framework, MMC has prepared to issue the Transition-Linked Bonds. (*1)
- (*1)
- Press release on November 1, 2023: "Established the Transition-Linked Finance Framework"
URL: https://www.mmc.co.jp/corporate/en/news/2023/news20231101.html
MMC announces today its decision to issue the Transition-Linked Bonds (38th unsecured Bonds) under the following conditions. MMC will promote its initiatives to realize carbon neutrality by utilizing the funds raised through the issuance of the Transition-Linked Bonds.
Overview of the Transition-Linked Bonds Issuance Conditions
- Name of the Bonds
- Mitsubishi Materials Corporation 38th unsecured Bonds (limited inter-bond pari passu clause) (Transition-Linked Bonds)
- Tenor
- 5 years
- Issue Amount
- JPY 20 billion
- Amount of Each Bonds
- JPY 100 million
- Issue Price
- JPY 100 per face value of JPY 100
- Coupon
- 0.863％ per annum
- Pricing Date
- November 22, 2023
- Issue Date
- November 29, 2023
- Maturity Date
- November 29, 2028
- Interest Payment Date
- 29th each of May and November annually
- Credit Rating
- A- (Japan Credit Rating Agency, Ltd.)
- KPI
- Renewable energy utilization rate (*2)
- SPT (*3)
- Achieve 30％ renewable energy utilization rate by FY2026
Determination date: At the end of August 2026
- Lead Managers
- Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. / Mizuho Securities Co., Ltd. / Nomura Securities Co., Ltd. / Daiwa Securities Co. Ltd.
- Structuring Agent
- Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
- External Review
- Japan Credit Rating Agency, Ltd.
- Trustee
- MUFG Bank, Ltd.
- (*2)
- Ratio of renewable electricity purchased by MMC (including electricity procured by other companies) divided by total electricity purchased
- (*3)
- Sustainability Performance Target. Set targets to be achieved with respect to key performance indicators (KPIs)
<Contact details for inquiries>
Corporate Communications Dept., Strategic Headquarters: +81-3-5252-5206