Teijin : Notice Regarding Pricing of Hybrid Bonds (Subordinated Bonds)
July 14, 2021 at 10:03 pm EDT
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July 15, 2021
To whom it may concern
Company: Teijin Limited
Representative: Jun Suzuki, President and CEO Stock code: 3401 (First Section, Tokyo Stock Exchange)
Contact: Tomoko Torii, General Manager Investor Relations Department TEL: +81-3-3506-4395
Notice Regarding Pricing of Hybrid Bonds (Subordinated Bonds)
Teijin Limited ("Teijin") announces that it has determined terms and conditions for public issuance of hybrid bonds (subordinated bonds) (the "Bonds") announced on June 21, 2021 in a release titled "Notice Regarding Public Offering of Hybrid Bonds (Subordinated Bonds)". The details are as follows.
(1)
Name of bonds
Teijin Limited. 1st Unsecured Subordinated Bonds with an interest payment deferral
clause and optional early redemption conditions
(2)
Issue Amount
60 billion yen
(3)
Initial Interest Rate
0.750% annually*
(4)
Payment Date
July 21, 2021
(5)
Maturity
July 21, 2051
(6)
Early Redemption
Teijin may, at its discretion, redeem the Bonds before maturity (i) on any interest
payment date on or after July 21, 2028, or (ii) upon the occurrence and continuation
of a tax event or an equity credit change event on or after the payment date.
(7)
Interest Payment Date
January 21 and July 21 of each year
(8)
Optional Deferral of
Teijin may, at its discretion, defer all or part of the interest payments on the Bonds.
Interest Payments
(9)
Subordination
The Bonds are ranked subordinated to Teijin's general debt and senior to the
common stock of Teijin.
(10)
Bond Rating
BBB (Rating and Investment Information, Inc.)
(11)
Equity
Class 3, equity 50% (Rating and Investment Information, Inc.)
(12)
Offering Format
Public offering in Japan
(13)
Underwriters
Nomura Securities Co., Ltd. (bookrunner and lead manager), Mitsubishi UFJ
Morgan Stanley Securities Co., Ltd. (joint lead manager), Mizuho Securities Co., Ltd.
(joint lead manager), Daiwa Securities Co., Ltd. (joint lead manager) and SMBC
Nikko Securities Inc. (joint lead manager)
(14)
Issuing Agent, Paying
MUFG Bank, Ltd.
Agent and Fiscal Agent
Note*: Fixed interest rate from the day after July 21, 2021 to July 21, 2028; variable interest rate from the day after July 21, 2028 (interest rate shall step up on the day after July 21, 2028).
This press release relates to offerings of Japanese Yen-denominated Bonds ("the Bonds") that are intended to be directed into Japan and its residents thereof in accordance with the law, customary practices and documentation in Japan. This press release does not constitute an offer of any securities for sale in the United States. The Bonds have not been registered under the United States Securities Act of 1933, as amended (the "Act"), and may not be offered or sold in the United States absent registration or an application exemption from the registration requirements under the Act.
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Disclaimer
Teijin Limited published this content on 15 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 July 2021 02:02:04 UTC.
Teijin Limited is a diversified group organized around 5 areas of activity:
- manufacturing and distribution of textile products and clothes (37.6% of net sales): textile fibers, polyesters, polymers, etc.;
- production of synthetic fibers (35.5%): aramid, carbon and polyester fibers for industrial applications;
- manufacturing of care and health products (17.8%): medicines (for the treatment of metabolic, cardiovascular, bone, joint and respiratory diseases), and home care equipments (home oxygen therapy equipments and positive pressure fans);
- sale of IT products and services (6.9%);
- other (2.2%).
Net sales break down geographically as follows: Japan (58.6%), China (13.1%), Asia (6.9%), Americas (13.7%) and other (7.7%).
TEIJIN LIMITED 
