Idemitsu Kosan : Announcement on Transition Bond Issuance
July 11, 2022 at 01:24 am EDT
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July 11, 2022
Press Release
Company Name: Idemitsu Kosan Co., Ltd. Representative Director & Chief Executive Officer: Shunichi Kito
(Company Code: 5019, TSE Prime Market) Contact person:
Daisuke Mogi, General Manager,
Investor Relations Office, Finance & Accounting Department (TEL: +81-3-3213-9307)
Announcement on Transition Bond Issuance
Idemitsu Kosan Co., Ltd. ("Idemitsu") hereby announces that it has finalized the terms for its transition bond issuance announced on March 22, 2022, as follows.
Idemitsu's corporate vision for 2030 is to become "Your Reliable Partner for a Brighter Future." The Company aims to contribute to the resolution of various social challenges through energy material transition to a carbon neutral recycling society, next-generation mobility and community adapted to an aging society, and new materials to make it possible to overcome such challenges. Funds raised through this transition bond issuance will be used for specific initiatives in the above- mentioned business domains, accelerating our efforts towards our vision for 2030.
Transition Bond Overview
(1)
Issuance amount
10 billion yen
10 billion yen
(2)
Term
5 years
10 years
(3)
Coupon
0.480%
0.879%
(4)
Subscription date
July 8, 2022
July 8, 2022
(5)
Payment date
July 14, 2022
July 14, 2022
(6)
Maturity date
July 14, 2027
July 14, 2032
(7)
Uses of capital
Projects which meet the qualifying criteria set forth in
the Idemitsu Kosan Co., Ltd. green/transition bond
framework (new expenditures and refinancing of
existing expenditures)
Creation of CNX center*1 (SAF*2, etc.), power and
renewable energy projects, low carbon solutions
projects for coal power generation, etc.
(8)
Third-party appraisal
DNV Business Assurance Japan K.K.
organization
(9)
Lead underwriters
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
Daiwa Securities Co. Ltd.
Mizuho Securities Co., Ltd.
(10)
Structuring agent
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
(11)
Bond rating
A (R&I)
*1
*2
Creation of CNX (Carbon Neutral Transformation) center: Concept of transforming refineries, factories, and other operating facilities to supply bases for next-generation energy such as renewable energy, ammonia, and bio/synthetic fuels
SAF: Sustainable Aviation Fuel
Press release issued on March 22, 2022: "First Case in the Petroleum Sector Selected as a Transition Finance Model Example by the Ministry of Economy, Trade and Industry ~Transition Bond Aimed at Achieving a Decarbonized Society~"https://ssl4.eir-parts.net/doc/5019/tdnet/2097945/00.pdf
Reference Materials
Idemitsu Kosan Co., Ltd. Green/Transition Bond Framework
(Note) This document is being disclosed for information purposes only; it does not constitute an offer to sell or the solicitation of an offer to buy any securities.
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Disclaimer
Idemitsu Kosan Co. Ltd. published this content on 11 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 July 2022 05:23:05 UTC.
Idemitsu Kosan Co., Ltd. is specialized in the production and refining of petroleum products. Net sales break down by category as follows:
- refining of petroleum products (78.8%): fuels, lubricants, kerosene, etc. At the end of March 2019, the group operated 6 refineries in Japan;
- manufacturing of petrochemical products (12.5%): activity carried out in 2 production sites located in Japan;
- exploration and production of oil, coal, uranium and geothermal resources (7%);
- other (1.7%).
Net sales are distributed geographically as follows: Japan (69.8%), Asia-Pacific (19.2%), North America (7.2%), Europe (2.4%) and others (1.4%).
IDEMITSU KOSAN CO., LTD. 
