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Hitachi Capital to issue ¥30B of hybrid bonds

Hitachi Capital Corp. plans to issue ¥30 billion of hybrid bonds in two series.

The company said Dec. 13 that the first series consists of ¥20 billion of bonds priced at par with an initial coupon of 1.04% per year and are callable on Dec. 19, 2021. The second series consists of ¥10 billion of bonds priced at par with an initial coupon of 1.31% per year and are callable on Dec. 19, 2026.

The bonds' principal can be redeemed in full on Dec. 19, 2076. The offering period begins on Dec. 13, while the settlement date is Dec. 19.

Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. will serve as underwriter for the issuance.

As of Dec. 13, US$1 was equivalent to ¥115.27.