Nippon Steel issues unsecured straight bonds
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Sunday, 16 Oct 2011
Nippon Steel Corporation announced that it has determined the terms and conditions for the issue of its 68th Series of Unsecured Straight Bonds (with inter bond pari passu clause) as outlined below.
| Series name | Nippon Steel Corporation 68th Series Unsecured Straight Bonds |
| Total amount of issue | JPY15 billion |
| Denomination of each bond | JPY 100 million. |
| Issue price | 10096 of the principal amount |
| Redemption price | 100Do of the principal amount |
| Interest rate | 11091 .per annum |
| Maturity date | September 17,2021 |
| Offering period | October 14. 2011 |
| Payment date | October 20. 2011 |
| Method of offering | Public offering |
| Method of redemption | H) Bullet maturity |
| (2) Retirement by purchase | |
| Collateral | The bonds are not secured by any pledge, mortgage or other charge on any assets or revenues of the Company or of others, nor are they guaranteed. There are no assets reserved as security for the bonds. |
| Financial covenants | Negative pledge clauses' with inter-bond pari passu clause 'attached |
| Interest payment dates | March 20 and September 20 of each year |
| Ratings | AA-(Rating and Investment Information. Inc.) |
| AA (Japan Credit Rating Agency, Ltd) | |
| A2 (Moody's Japan. K.K) | |
| BBB+ (Standard & Poor's Ratings Japan ELK) | |
| Underwriters | Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. Mizuho Securities Co. Ltd. SMBC Nikko Securities Inc. |
| Fiscal agent | Mizuho Corporate Bank Ltd |
