Press Information
MHI Priced Third Series Transition Bond
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・ MHI issued the transition bond for three consecutive years followed by issuance of first series in 2022, to promote the company's energy transition initiatives
・ MHI, as a leading company in the decarbonization field with an extensive track record and ongoing development of advanced technologies, is accelerating the promotion of projects that contribute to carbon neutrality of Japan and the world
Tokyo, August 30, 2024 - Mitsubishi Heavy Industries, Ltd. (MHI) has successfully priced the third series transition bond as followings, which was announced in a press release on August 2.
■Transition Bond Summary
| Bond name | Mitsubishi Heavy Industries, Ltd. 44th Series Secured Bond (with inter-bond pari passu clause) (The 3rd Series of Mitsubishi Heavy Industries Transition Bonds) |
|---|---|
| Maturity | 5 years |
| Issuance amount | JPY 10 billion |
| Interest rate | 0.700% |
| Issue date | September 5, 2024 |
| Redemption date | September 5, 2029 |
| Use of proceeds | New investments and refinancing of existing investments relating to eligible businesses or projects (decarbonize existing infrastructure, build a hydrogen solutions ecosystem, build a CO2 solutions ecosystem) |
| Assigned rating | AA- (Japan Credit Rating Agency, Ltd. [JCR]) |
| Lead managers | Nomura Securities Co., Ltd. Mizuho Securities Co., Ltd. SMBC Nikko Securities Inc. Daiwa Securities Co., Ltd. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. BofA Securities Japan Co., Ltd. |
| Second party opinion | DNV Business Assurance Japan K.K. |
| Evaluation of the transition bond's suitability | MHI receives second-party opinions from a second-party institution, DNV Business Assurance Japan K.K., on compatibility with the following principles, guidelines, etc.
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■Relevant SDGs
■Related releases
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About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.