Nippon Steel & Sumitomo Metal : Issues Unsecured Straight Bonds
June 06, 2018 at 10:03 am IST
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June 6, 2018
Nippon Steel & Sumitomo Metal Corporation
Nippon Steel & Sumitomo Metal Issues Unsecured Straight Bonds
Nippon Steel & Sumitomo Metal Corporation announced today that it has determined the terms and conditions for the issue of its 7th, 8th and 9th Series of Unsecured Straight Bonds (with inter-bond pari passu clause) as outlined below.
Series name
Nippon Steel & Sumitomo Metal Corporation 7th Series Unsecured Straight Bonds
Nippon Steel & Sumitomo Metal Corporation 8th Series Unsecured Straight Bonds
Nippon Steel & Sumitomo Metal Corporation 9th Series Unsecured Straight Bonds
Total amount of issue
JPY 20 billion
JPY 20 billion
JPY 20 billion
Denomination of each bond
JPY 100 million
Issue price
100% of the principal amount
Redemption price
100% of the principal amount
Interest rate
0.120% per annum
0.250% per annum
0.385% per annum
Maturity date
June 20, 2023
June 20, 2025
June 20, 2028
Offering period
June 6, 2018
Payment date
June 12, 2018
Method of offering
Public offering in Japan
Method of redemption
(1) Bullet maturity
(2) Retirement by purchase
Collateral
The bonds are not secured by any pledge, mortgage or other charge on any assets or revenues of the Company or of others, nor are they guaranteed. There are no assets reserved as security for the bonds.
Financial covenants
Negative pledge clauses (with inter-bond pari passu clause) attached
Interest payment dates
June 20 and December 20 of each year
For inquiries
Public Relations Center, Tel:+81-3-6867-2135, 2146, 2977, 3419
Note: This press release has been prepared for the sole purpose of publicly announcing the issuance of the Nippon Steel & Sumitomo Metal Corporation's 7th, 8th and 9th Unsecured Bonds, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside Japan. This press release is not an offer of securities for sale in the United States. The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. No securities issued by Nippon Steel & Sumitomo Metal Corporation will be publicly offered or sold in the United States in connection with Nippon Steel & Sumitomo Metal Corporation's issuance of 7th, 8th and 9th Unsecured Bonds.
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Nippon Steel & Sumitomo Metal Corporation published this content on 06 June 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 06 June 2018 04:32:15 UTC
Nippon Steel Corporation is one of the Japanese largest iron and steel groups. Net sales break down by activity as follows:
- manufacturing of steel products (88.5%): long steel, flat steel, rails, sheets, iron bars, tubular products, etc.;
- engineering and construction services (4%): design, development and construction of offshore structures, infrastructures and environmental systems;
- technologic services (3.9%);
- manufacturing of chemical product (3.6%): primarily raw materials and iron and steel by-products (coal, coke, tar, etc.).
Net sales are distributed geographically as follows: Japan (60.2%), Asia (22.8%) and other (17%).