By Rebecca Melvin
New York, March 16 – GLP J-REIT priced a ¥5 billion 0.97% 20-year sustainability bonds (JCR: AA) on Tuesday, according to a company news release.
The bond issue is GLP’s third issuance of green financing since December 2018.
Nomura Securities Co. Ltd. is the underwriter. MUFG Bank Ltd. is the fiscal agent, issuing agent and payment agent.
The proceeds will be used to partially redeem the third unsecured investment corporate bond maturing Dec. 10, 2021. All the proceeds from that loan were used to refinance the loan received for acquiring GLP Yokohama, a specified asset that meets the criteria of eligible sustainability projects. The planned date of prepayment is March 23.
The investment company is based in Tokyo.
| Issuer: | GLP J-REIT
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| Amount: | ¥5 billion
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| Maturity: | March 22, 2041
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| Securities: | Sustainability bonds
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| Underwriter: | Nomura Securities Co. Ltd.
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| Coupon: | 0.97%
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| Price: | Par
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| Yield: | 0.97%
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| Trade date: | March 16
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| Settlement date: | March 23
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| Rating: | Japan Credit Rating Agency: AA
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