Mitsui O.S.K. Lines to offer ¥10 billion of five-year green bonds

By Marisa Wong

Morgantown, W.Va., Aug. 7 – Mitsui O.S.K. Lines, Ltd. (MOL) announced plans to issue ¥10 billion of green bonds through a public offering in Japan’s domestic market.

The green bonds will be issued as MOL’s 20th and 21st series of unsecured corporate bonds. Each series will have a size of ¥5 billion and a maturity of five years.

Daiwa Securities Co., Ltd. and Nomura Securities Co., Ltd. will act as lead managers. Daiwa Securities will act as green bond structuring agent.

Proceeds will be allocated to MOL’s green projects, which include ballast water treatment systems, sulfur oxide scrubbers, LNG-fueled vessels, LNG fuel bunkering vessels, new propeller boss cap fins (PBCF) and a wind challenger plan, a joint industry-academia research project led by Tokyo University focused on using advanced sails to propel merchant vessels.

MOL plans to issue the 20th series bonds in August and the 21st series bonds in September.

This is the first time a company in Japan has issued green bonds aimed at individual investors, according to a company press release.

MOL is a shipping company based in Tokyo.

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