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Hitachi Capital to raise US$100M in Hong Kong green bond issue

Hitachi Capital Corp. is set to raise US$100 million through an issuance of green bonds in Hong Kong, The Nikkei reported.

The Japanese company will issue five-year green bonds on Dec. 15 through a group company. The bond yield will equal three-month LIBOR plus 0.88 percentage point and will be adjusted every three months, according to the newspaper.

The company will use proceeds of the issuance to fund renewable energy, water infrastructure and other sustainable projects in Hong Kong and mainland China.

Mizuho Securities Asia is serving as the lead underwriter for the issuance.