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Kao to issue ¥25B unsecured straight bonds

Kao Corp. said May 24 that it will issue unsecured straight bonds of up to ¥25 billion, with a maturity of up to five years and three months.

The Japanese cosmetics company intends to use the proceeds from the offer to repay debt and strengthen its financial base for sustainable growth.

Details such as the offer price, interest rate and date of issuance will be disclosed at a later date, Kao said.

As of May 23, US$1 was equivalent to 110.03 Japanese yen.