The proceeds of the green bonds will be used to finance carbon-neutral R&D and the group’s decarbonization projects, all designed to put “NGK Group Vision: Road to 2050” and “NGK Group Environmental Vision for 2050” into practice.
Overview of the Green Bonds
|Name of bonds||Eighth Series of NGK INSULATORS, LTD. Unsecured Straight Bonds (With Inter-Bond Pari Passu Clause) (Second Series of Green Bonds)|
|Issuance amount||5 billion yen|
|Issuance date||November 24, 2022|
|Redemption date||November 24, 2027|
|Credit rating||“A+” provided by Rating & Investment Information, Inc.|
|Lead bookrunners||Nomura Securities Co., Ltd., Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., and Daiwa Securities Co. Ltd.|
|Structuring agent||Nomura Securities Co., Ltd.|
Overview of the past Green Bonds
Projects Eligible for the Green Bonds’ Financing
We have set projects for development and distribution of products and services contributing to realizing “carbon neutrality,” “a recycling-oriented society,” and “harmony with nature,” and for investment in development of the manufacturing processes of such products, as eligible projects for green bond financing.
Second Party Opinion
The green bond framework is aligned with the ICMA Green Bond Principles 2021 and the Green Bond Guidelines 2022 by the Ministry of the Environment and has obtained “Green 1(F),” the highest rating, provided by an external reviewer (Japan Credit Rating Agency, Ltd.).
Green Bond Framework Evaluation provided by JCR
Allocation Reporting and Impact Reporting
The reporting is available in the PDF at the link below.
Reporting (as of March 31, 2022)
Post Issuance Review
JCR reviewed the reporting’s alignment to the green bond framework.