Tokai Carbon : Notice Regarding Determination of Issuance Condition for Third Subordinated Hybrid Bonds
June 27, 2024 at 11:33 am IST
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June 27, 2024
For immediate release
Company Name: Tokai Carbon Co., Ltd.
Representative: Hajime Nagasaka, President & CEO
(Stock Code: 5301 Prime Market,Tokyo Stock Exchange)
Contact: Naoki Hirai, General Manager, Accounting & Finance Department,
(Telephone: +81-3-3746-5100)
Notice Regarding Determination of Issuance Condition for Third Subordinated Hybrid Bonds
Tokai Carbon Co., Ltd. ("Tokai Carbon") hereby announces the finalization of terms for the public issuance of third subordinated hybrid bonds (the "Bonds")*1. The terms were finalized today, as detailed below.
(1)
Bond Name
Tokai Carbon Co., Ltd.
3rd Unsecured Bonds with Deferred Interest Payments and Premature
Redemption (Subordinated)
(2)
Amount to Issue
25 billion yen in cash
(3)
Initial Interest Rate
2.118% annually*2
(4)
Payment Due Date
3 July, 2024
(5)
Redemption Date
3 July, 2059
(6)
Premature Redemption
On July 3, 2029 and interest payment dates from July 3, 2029 onward,or after
the paymentdue date, prematureredemptionmayoccur at the discretion of the
Company in the event of the incidence or continuation of reasonsassociatedwith
taxesor equity-relatedchanges.
(7)
Interest Payment Date
Every year on July 3 and Janurary 3
(8)
Optional Termination of Interest
On an interestpaymentdate,the Companymay,at its discretion,carryover the
Payment
paymentof intereston the bonds in wholeor in part.
(9)
Order of Priority
The order of repaymentto the bonds shallsubordinategeneraldebt and prioritize
commonstock.
(10)
Credit Rating
BBB+(Rating and Investment Information, Inc.)
A-(Japan Credit Rating Agency, Ltd.)
(11)
Equity
Class 3, equity 50% (Rating and Investment Information, Inc.)
*1.The bonds are debt and shall not be diluted by shares.
*2. Fixed interest rate from the day after July 3, 2024 to July 3, 2029; variable interest rate from the day after July 3, 2029(interest rate shall step up on the day after July 3, 2029)
End of Notice
1
This press release relates to offerings of Japanese Yen-denominated Bonds ("the Bonds") that are intended to be directed into Japan and its residents thereof in accordance with the law, customary practices and documentation in Japan. This press release does not constitute an offer of any securities for sale in the United States. The Bonds have not been registered under the United States Securities Act of 1933, as amended (the "Act"), and may not be offered or sold in the United States absent registration or an application exemption from the registration requirements under the Act
2
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Tokai Carbon Co. Ltd. published this content on
27 June 2024 and is solely responsible for the information contained therein. Distributed by
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27 June 2024 06:02:34 UTC.
Tokai Carbon Co., Ltd. is one of the Japanese leaders in manufacturing and marketing of coal and graphite products. The group is also producing industrial furnaces. Net sales break down by family of products as follows:
- coal and graphite products (69.6%): coal, graphite electrodes, special graphite and friction materials primarily for industrial, electronic, energy, automotive and mechanic applications;
- cathodes for smelting aluminum and furnace linings (18.1%);
- industrial furnaces and heating products (6.9%): for thermal processing of ceramic products, electronic components, metals, glasses, etc.;
- other (5.4%).
Net sales break down geographically as follows: Japan (24.6%), Asia (26.7%), the United States (26.5%), Europe (11.6%) and other (10.6%).
TOKAI CARBON CO., LTD. 
