Japan Firm to Sell Bonds With Coupons Linked to Green Goals
- Hulic plans to offer sustainability-linked notes in October
- Bond’s coupon rises if it misses environmental targets
This article is for subscribers only.
A Japanese real estate developer is planning to sell a bond whose coupon increases if it misses environmental targets, in the first issuance of its kind in the nation.
Hulic Co. plans to offer 10 billion yen ($94 million) of 10-year so-called sustainability-linked bonds in October, according to a filing Tuesday. If the company isn’t able to meet either of its two green goals by 2025, the coupon on the debt will increase by 10 basis points.