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Mitsubishi Electric sets terms for inaugural green bond offering
By Marisa Wong
Los Angeles, Dec. 7 – Mitsubishi Electric Corp. set the terms and conditions for issuing its first corporate green bonds in the Japanese market, according to a Thursday press release.
As initially announced on Nov. 10, Mitsubishi Electric plans to sell ¥50 billion of the green bonds with a maturity of up to 10 years. The company did not disclose specific terms in Thursday’s announcement.
Proceeds from the bonds will be used to construct a silicon-carbide power semiconductor plant and upgrade related facilities.
The company said that given its active sustainability initiatives, 41 investors have announced their intention to invest in the upcoming green bonds.
Daiwa Securities Co., Ltd. and Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. are the lead underwriters, with Daiwa Securities as green bond structuring agent.
The bonds are expected to be issued this month.
The Tokyo-based company manufactures, markets and sells electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment.
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