trending Market Intelligence /marketintelligence/en/news-insights/trending/xsc3zxsb2byrsvuc11k85q2 content esgSubNav
In This List

Nippon Building to offer ¥10B of corporation bonds

Blog

Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise

Blog

FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Nippon Building to offer ¥10B of corporation bonds

Nippon Building Fund Inc. is issuing ¥10 billion worth of unsecured investment corporation bonds under two series through a public offering.

The bonds will be issued in two equal amounts of ¥5 billion each and will mature May 23, 2025, and May 21, 2038, respectively, with yearly interest rates set at 0.220% and 0.888%. The issue and redemption prices stand at ¥100 per ¥100 of each bond.

The office real estate investment trust estimates net proceeds to come in at ¥9.90 billion, which will be used for the partial repayment of borrowings due in May and June, as well as to partially redeem bonds maturing June 12.

Japan Securities Depository Center Inc. was tapped to be the book-entry transfer institution for the offering, while Sumitomo Mitsui Trust Bank Ltd. was tasked to be the fiscal, issuing and paying agent. Daiwa Securities Co. Ltd. is acting as the offering's underwriter.

As of May 16, US$1 was equivalent to ¥110.26.