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Japan’s Inpex to launch JPY-10bn green bond sale in Oct – EQ Mag Pro

Japan’s Inpex to launch JPY-10bn green bond sale in Oct – EQ Mag Pro

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Japanese oil and natural gas producer Inpex Corp (TYO:1605) plans to launch its first green bond placement, seeking to raise JPY 10 billion (USD 91.2m/EUR 77.3m) to invest in environmental and renewable energy projects.

The offering is due to be initiated in October, in line with the company’s green bond framework, Inpex said on Monday. The Japanese firm intends to use the raised funds to finance environmentally-friendly projects such as renewable energy development. The latter category envisages investment in the development, construction and operation of wind, solar and geothermal power plants.

The green bonds, certified by the Climate Bonds Initiative, will mature in 10 years. Their issue supports Inpex’s goal to become net-zero by 2050 and diversify its financing sources, the Japanese group said. Its interim target for 2030 is to achieve a reduction of at least 30% of its Scope 1 and 2 carbon dioxide (CO2) emissions.

SMBC Nikko Securities Inc, Mizuho Securities Co Ltd and Mitsubishi UFJ Morgan Stanley Securities Co Ltd will act as joint underwriters of the transaction.

(JPY 100 = USD 0.912/EUR 0.773)

Source: renewablesnow
Anand Gupta Editor - EQ Int'l Media Network