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Japan Retail Fund to issue ¥8B of green bonds

Japan Retail Fund Investment Corp. will issue ¥8.00 billion of investment corporation bonds, or green bonds, to repay the same amount of existing borrowings due Dec. 28.

The new bonds are the first green bonds to be issued by a Japanese real estate investment trust, according to a release.

The bonds will bear an annual interest rate of 0.210%, payable every May 25 and Nov. 25. The bonds will be redeemed May 25, 2023.

Mizuho Securities Co. Ltd., SMBC Nikko Securities Inc., Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. and DBJ Securities Co. Ltd. are the underwriters.

As of May 10, US$1 was equivalent to ¥109.58.