Released on November 22, 2019, in Kyoto, Japan
Nidec Corporation (TSE:6594; OTC US: NJDCY)(the "Company" or "Nidec") today announced that it has determined the following terms and conditions for the issuance of three series of unsecured straight bonds (Green Bonds*) (with inter-bond pari passu clause) in line with the preannounced issuance plan.
| Series | 9th | 10th | 11th回 |
|---|---|---|---|
| Total amount of issue | JPY 50 billon | JPY 30 billon | JPY 20 billon |
| Book-Entry Transfer Law | The Bonds shall be subject to the provisions of the Law Concerning Book-Entry Transfer of Corporate Bonds, Stocks, Etc. of Japan and shall be handled in accordance with the business regulations of a Book-Entry Transfer Institution setting forth the matters required by the Book-Entry Transfer Law. | ||
| Denomination per bond | JPY 100 million | ||
| Interest rate | 0.020% per annum | 0.090% per annum | 0.150% per annum |
| Issue Price | 100% of the denomination per bond | ||
| Redemption price | 100% of the denomination per bond | ||
| Maturity | 28 November 2022 | 28 November 2024 | 27 November 2026 |
| Offering period | 22 November 2019 | ||
| Payment date | 28 November 2019 | ||
| Method of offering | Public offering in Japan | ||
| Collateral and guarantee | The bonds are not secured by any property or guarantee, nor have assets been specially pledged as collateral for these bonds. | ||
| Retirement by purchase: | The bonds may be repurchased at any time from the day following the payment date except as otherwise specified by the book-entry transfer institution | ||
| Coupon payment dates | May 28th and November 28th of each year | ||
| Book-entry transfer institution | Japan Securities Depository Center, Inc. | ||
| Finance, issue and payment agent | Sumitomo Mitsui Trust Bank, Limited | ||
| Rating | AA- Rating and Investment Information, Inc. | ||
| Use of proceeds | Capital expenditure and R&D expense for the production of traction motors for EVs. | ||
| Eligibility of Green Bond Framework | The company has obtained the Second Party Opinion** for the criteria set forth by the International Capital Markets Association (ICMA) in its "Green Bond Principles 2018 (GBP)and Japan's Green Bond Guidelines 2017 from Sustainalytics a leading international third-party verification provider | ||
| Green Bond Structuring Agent*** | Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. | ||
| Underwriters | Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Daiwa Securities Co.Ltd., SMBC Nikko Securities Inc., Goldman Sachs Japan Co.. Ltd., JPMorgan Securities Japan Co., Ltd. | Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Daiwa Securities Co.Ltd., SMBC Nikko Securities Inc., Goldman Sachs Japan Co., Ltd., JPMorgan Securities Japan Co., Ltd. | Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Daiwa Securities Co.Ltd., SMBC Nikko Securities Inc., Goldman Sachs Japan Co., Ltd. |
* Green Bond: Bonds issued to raise funds required for businesses that help solve environmental problems such as global warming
** For more information on Opinions, please refer to Sustainalytics Web site at:
https://www.sustainalytics.com/sustainable-finance/wp-content/uploads/2019/11/Nidec-Corporation-Green-Bond-Second-Party-Opinion-08112019-ENGLISH.pdf
*** Green Bond Structuring Agent: who supports the issuance of green bonds through the formulation of a green bond framework and advice on obtaining a second opinion, etc
| This press release has been prepared for the sole purpose of publicly announcing the Company's issuance of the Bonds, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside of Japan. |
