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Japan Tobacco issues ¥100B straight bonds

Japan Tobacco Inc. on Sept. 4 announced the issuance of straight bonds in three tranches with a total value of ¥100 billion.

The first tranche comprises ¥60 billion, with a five-year duration, maturing in September 2023 at an interest rate of 0.110% per annum.

The second tranche is for ¥30 billion with a duration of 10 years and an interest rate of 0.355% per annum, maturing in September 2028.

The third tranche comprises ¥10 billion with a 20-year duration, maturing in 2038, and an interest rate of 0.758% per annum.

In each tranche, interest is payable semiannually.

Net proceeds from the issuance will be used for repayment of short-term debts.

Mizuho Securities Co. Ltd., Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. and SMBC Nikko Securities Inc. will serve as the lead managers.

Nomura Securities Co. Ltd. and Daiwa Securities Co. Ltd are the managers for this syndication.

As of Sept. 4, US$1 was equivalent to 111.45 Japanese yen.