Tokyo Tech will issue its first sustainability bond, also known as the Tokyo Institute of Technology Tsubame Bond, on December 16, after the Institute decided on the terms and conditions for the issuance on December 9.
The decision comes after a third-party evaluation by Rating and Investment Information, Inc. (R&I) of Tokyo Tech’s Sustainability Bond Framework in September 2022, which states that the framework complies with Green Bond Principles 2021, Social Bond Principles 2021, Sustainability Bond Guidelines 2021, and other principles and guidelines published by the International Capital Market Association (ICMA).
Proceeds from the bonds will be used to finance the . Through XCIE2031, the Institute will contribute to the realization of carbon neutrality through efforts such as the establishment of the and the launch of the within the realm of integrated energy science, one of Tokyo Tech’s priority fields. XCIE2031 will also accelerate the creation of new value and industries, two goals firmly rooted at Tokyo Tech since its founding, allowing the Institute to lead the way towards a better future with new knowledge and innovation.
Bond overview
Bond name | ³Ô¹ÏÍøÕ¾ University Corporation Tokyo Institute of Technology Bond Issue No. 1 (Sustainability bond, “Tokyo Institute of Technology Tsubame Bond”) |
|---|---|
Bond term | 40 years |
Total issue amount | 30 billion yen |
Interest rate | 1.800 % per year |
Issue date (payment date) | December 16, 2022 |
Maturity date | March 17, 2062 |
Collateral | General mortgage |
Underwriters | Lead underwriter: Daiwa Securities Co. Ltd. Joint lead underwriter: Mizuho Securities Co., Ltd. Joint lead underwriter: Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. |
Structuring agent | Daiwa Securities Co. Ltd. |
Fiscal agent | Sumitomo Mitsui Banking Corporation |
Bond rating | AA+ (Rating and Investment Information, Inc.) |
