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Gunma Bank to issue ¥10B of green bonds

Gunma Bank Ltd. plans to issue ¥10 billion of green bonds in November, The Nikkei reported Oct. 24.

The issuance of the 10-year bonds will make Gunma Bank Japan's first regional bank to raise funds via ESG debt.

The proceeds from the issuance will be used to invest in renewable energy development and companies engaged in boosting energy efficiency, including those involved in electric vehicles, LEDs and solar power.

Nomura Securities Co. Ltd. and SMBC Nikko Securities Co. Inc. are the lead underwriters for the issuance.

As of Oct. 24, US$1 was worth ¥108.61.