Tokai Carbon Sets Terms for Hybrid Bond Issue

Tokai Carbon Co (JP:5301) has released an update.

Tokai Carbon Co., Ltd. has finalized the issuance terms for its third subordinated hybrid bonds, aiming to raise 25 billion yen with an initial interest rate of 2.118% annually. The bonds will be due for payment in 2059, with the option for premature redemption starting in 2029 under certain conditions. The offering, rated BBB+ and A- by credit agencies, will be managed by Nomura Securities and SMBC Nikko Securities, and is intended for investors in Japan.

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