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MUFG to bolster capital with green bonds

TOKYO -- Striving to meet stricter capital requirements for banks, Mitsubishi UFJ Financial Group plans to raise up to $3 billion through bonds specifically aimed at financing renewable energy projects. 

The first batch of bonds, worth $500 million, is to be issued in September as part of a $3 billion issuance of so-called TLAC bonds. The Japanese megabank is looking to tap into growing demand for environment-friendly projects among institutional investors. Eventually, MUFG plans to increase the size of its green bond issuances to between 200 billion yen and 300 billion yen ($1.93 billion and $2.9 billion).

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