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Finance

MUFG to issue Japan's first 'coronavirus bond'

$559 million bond aims to help small businesses fight COVID-19

MUFG's coronavirus bond will be denominated in a foreign currency and be geared toward foreign investors.

TOKYO -- Japan's Mitsubishi UFJ Financial Group will issue a corporate bond in response to the coronavirus pandemic, a first for the country.

The financial services behemoth aims to issue a 60 billion yen ($559 million) bond by early June. Funds raised through the bond will be used to help finance small and medium-sized businesses that are struggling amid the outbreak. MUFG will target investors who focus on environmental, social and governance, or ESG, factors in their investment management.

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