Kirin Holdings to price up to ¥90 billion of social bonds

By Mary-Katherine Stinson

Lexington, Ky., Sept. 22 – Japan’s Kirin Holdings Co., Ltd. intends to offer about ¥90 billion of domestic social bonds to partially fund its acquisition of Blackmores Ltd., according to a notice.

The bonds are expected to be priced and issued in October with tenors of five, seven and 10 years.

The 10-year bond is planned to be issued without the social label.

Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Mizuho Securities Co. and Nomura Securities Co. are the lead managers for the offering.

Mizuho Securities is also the structuring agent

The bonds will be issued under Kirin’s newly established social bond framework, which will be published Sept. 22. The framework has received a second party opinion from DNV Business Assurance Bank Japan KK.

In addition, this issuance is the first to receive a subsidy announcement from the Tokyo Metropolitan Government for the fiscal 2023 ESG bond issuance promotion support project.

It will be the largest sustainable development goals bond issued by a domestic food company.

Kirin completed the acquisition of Australian natural health food company Blackmores on Aug. 10.

Founded and based in Japan, Kirin is a producer of beer, soft drinks, food products, whisky and pharmaceuticals.

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