KYOTO, Japan -- Nidec plans to issue 100 billion yen ($916 million) in green bonds to fund the development of electric-vehicle motors in the company's first and the country's largest-ever float of environmental bonds, Nikkei has learned.
The precision motor maker will float three tranches of three-, five- and seven-year debts, with the buy-in deadline slated for late November. Details such as the coupon rates will be finalized soon. Lead underwriters will include Mitsubishi UFJ Morgan Stanley Securities, with the securities to be rated by Japan's Rating and Investment Information.
