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JFE to become first Japan manufacturer to issue 'transition bonds'

Steel producer to raise over $260m to develop energy-saving tech

JFE will use the funds raised through its transition bonds in projects such as reducing energy consumption at its steel mills.

TOKYO -- Japanese steelmaker JFE Holdings plans to raise 30 billion yen ($262 million) from so-called transition bonds, the first such financing by a manufacturer in the country as it pushes toward a low-carbon economy.

The debt, to be issued in the business year starting April with Nomura as the main underwriter, will pay for the development of energy-saving technologies.

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