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Nippon Sanso calls subordinated hybrid bonds for early redemption
Chicago, Dec. 5 – Taiyo Nippon Sanso Corp., which now goes by the name Nippon Sanso Holdings Corp., is calling its ¥100 billion of public subordinated hybrid bonds for early redemption, according to a notice.
The bonds were issued on Dec. 4, 2018.
The hybrid debt will not be replaced as there has been a “steady improvement in the financial soundness” of the company.
Funding for the redemption will instead come from three series of bonds issued on Aug. 31.
The full par redemption will occur on Jan. 29, the first optional redemption date.
The bonds would have matured on Jan. 25, 2054.
Nippon Sanso is a Tokyo-based multinational industrial gas manufacturer
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