University of Tokyo's maiden bond sale sells out by factor of six

Elite school's ESG debt draws investors including Nippon Life and NEC

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The University of Tokyo's Yasuda Auditorium: One of Japan's most prestigious schools has made its bond market debut. (Photo by Akira Kodaka)

KOHEI ONISHI, Nikkei staff writer

TOKYO -- The University of Tokyo has become the first Japanese national university to issue its own bonds, and the offer promptly sold out to a broad range of investors.

The 20 billion yen ($189 million) issue of 40-year debt, announced Thursday, attracted 126 billion yen of investor demand. That is more than six times the size of the offer, said Daiwa Securities, a lead underwriter.

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