Japan's Inpex issues its 1st green bonds
Japanese energy firm Inpex on October 8 said it is issuing its first green bonds. The bonds are valued at 10bn yen ($91mn) and have a maturity of 10 years and carry an interest of 0.25%.
This follows the company’s announcement last month that it will issue its inaugural green bonds to promote initiatives toward the realisation of a net-zero carbon society by 2050 and to diversify its financing sources.
The use of funds raised through the issuance of green bonds will be restricted to businesses and operations that help improve the state of the environment, such as the development of renewable energies. SMBC Nikko Securities, Mizuho Securities and Mitsubishi UFJ Morgan Stanley Securities are the lead managers.
Inpex has set goals to achieve its own net-zero carbon emissions by 2050.