TOHOKU ELECTRIC POWER CO., INC.

November 21, 2019

Notice Concerning Issuance of the 515th Straight Bonds of Tohoku Electric Power Co., Inc.

We hereby announce that the 515th Straight Bonds of Tohoku Electric Power Co., Inc. will be issued as described below.

Please note that the bonds will be offered to institutional investors only.

1.

Purpose of issuance:

Proceeds will be used for capital expenditure and bond redemption

2.

Type of bond:

Straight bond (with general mortgage)

3.

Aggregate

principal amount:

10 billion yen

4.

Denomination:

1 million yen

5.

Schedule:

Date of offer

November 21, 2019

Subscription date

November 21, 2019

Closing date

November 27, 2019

Date of issue

November 27, 2019

6.

Interest:

0.190% p.a.

(Yield to maturity: 0.190% p.a.)

7.

Issue price:

100% of the denomination

8.

Redemption price:

100% of the denomination

9.

Period to maturity:

6 years (November 25, 2025)

10. Redemption method:

Bullet maturity

11. Managers:

Daiwa Securities Co. Ltd. (Lead manager)

SMBC Nikko Securities Inc.

12. Bond trustees:

Mizuho Bank, Ltd.

Sumitomo Mitsui Banking Corporation

13. Bond rating:

A+ (Rating and Investment Information, Inc.)

AA (Japan Credit Rating Agency, Ltd.)

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Tohoku Electric Power Co. Inc. published this content on 21 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 November 2019 03:25:03 UTC