Mitsui O.S.K. Lines
  • About MOL

    About MOL

    About MOL Top

    • Corporate Profile
    • Corporate Mission
    • Directors, Auditors and Executive Officers
    • Organization
    • History
    • Location
    • MOL Group
    • Corporate Brochure/Video

  • MOL Services

    MOL Services

    MOL Services Top

    • Dry Bulk Transport Dry Bulkers
    • Energy Transport Tankers
    • Energy Transport Wind Power Energy Business
    • Energy Transport LNG Carriers
    • Energy Transport Offshore Business
    • Product Transport Car Carriers
    • Product Transport Ferries and Coastal RoRo Vessels
    • Product Transport Containerships
    • Product Transport Terminal
    • Product Transport Logistics
    • Associated Businesses Cruise Ship
    • Associated Businesses Tugboat

  • Sustainability

    Sustainability

    Sustainability Top

    • Sustainability Management
      • Sustainability Issues (Materiality)
      • Sustainable Finance
    • Safety & Value (Provide added value through safe transportation and the social infrastructure business)
      • Fundamental Policy of Safe Operation
      • Organization to support Safe Operation
      • Cultivating a Safety Culture
      • Initiatives and Activities to support Safety
      • Facilities, Equipment and ICT that Support Safe Operation
    • Environment (Conservation for Marine and global environment)
      • MOL Group Environmental Policy Statement
      • MOL Group Environmental Vision 2.1
      • Environmental Management System
      • Regulations
      • Climate Change Countermeasures
      • Information Disclosure based on TCFD Recommendations
      • Preservation of marine environments / Protection of biodiversity
      • Prevention of Air Pollution
    • Human & Community (Contributing to the growth and development of people and communities)
      • MOL CHARTS: Expressing the MOL Group's Shared Values
      • Human Resources Development
      • Securing and training seafarers
      • Workstyle Reforms
      • Promotion of Diversity and Inclusion
      • Health and Productivity Management
      • Stakeholder Engagement
      • Corporate Culture Assessment
      • Social Contribution Activities
    • Innovation (Innovation for development in marine technolog)
      • Organizational Structure to Promote Technological Innovation
      • Technological Innovation - MOL's Projects
      • Tracking MOL's Ship Technologies
      • ICT Strategy
    • Governance (Governance and compliance to support businesses)
      • Corporate Governance
      • Risk Management
      • Compliance
      • Information Security
      • Responsible Procurement
      • Human Rights
    • External Recognition
    • Sustainability Data
    • GRI STANDARDS INDEX
    • MOL Report (to IR Library)
      Safety, Environmental and Social Report (Back Issues)

  • Investor Relations

    Investor Relations

    Investor Relations Top

    • Management Policy
      • Message from the CEO
      • Management Plan
      • IR Policies
      • Risk Management
    • Financial Information
      • Latest Financial Results
      • Financial Data
    • IR Library
      • IR News
      • Financial Highlights
      • Business Performance
      • Investor Guidebook
      • Market Data
      • Investors Meeting
      • MOL Report
      • Business Report
      • Financial Statements
    • Share & Corporate Bond
      • General Share Information
      • Dividends
      • General Meeting of Shareholders
      • Articles of Incorporation
      • Corporate Bond & Ratings
      • Analyst Coverage
      • Share Price (Euroland)
    • IR Event Calendar
    • FAQ
    • Contact IR Office
    • IR Email Updates
    • Disclamer

  • Press Release
  • Contact Us
  • Service Site

JP

Close

Top Page > Press Release 2021 > MOL Announces Issuance of Publicly Offered Hybrid Corporate Bonds

Japanese

MOL Announces Issuance of Publicly Offered Hybrid Corporate Bonds

March 17, 2021

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced the submission of an amended version of the shelf registration statement regarding the issuance of publicly offered hybrid corporate bonds (no collateral and subordinated corporate bonds) to the Director-General of the Kanto Local Finance Bureau.

1. Purpose and background of the hybrid bond issue
MOL has established the management plan that is updated every year (called the "Rolling Plan") since fiscal year 2017. The management plans reflect the company's actions to set out the group's corporate vision and medium-to-long-term management direction under the ever-changing external environment, and develop business strategies based on those actions. Since the initial year, the plans have encompassed choice and focus of areas for resource allocation to improve the company's financial standing and reform its business portfolio. The company is considering fund procurement with hybrid bonds as a part of efforts to enhance its earnings base to achieve a swift recovery to a growth trajectory and strengthen its financial base to support stable growth.
Meanwhile, MOL plans to apply the funds procured through the hybrid bonds to a partial fund repayment before the maturity of the hybrid loan (*).
2. Characteristics of the hybrid bonds
The hybrid bonds have characteristics of both equity and debt. Because they are debt instruments, there is no equity dilution, whereas they are similar to equity in features and characteristics, such as an option to defer interest payments, extremely long-term redemption periods, and subordination in liquidation or bankruptcy proceedings. Therefore, MOL expects that 50% of the amount to be financed will be regarded as capital by the rating agency Japan Credit Rating Agency, Ltd.
For more information, please refer to the amended shelf-registration statement submitted to Director-General of the Kanto Local Finance Bureau as of today.
3. Future schedule
MOL has appointed Nomura Securities Co., Ltd. as the bookrunner and lead manager of the Hybrid Bonds, and Daiwa Securities Co. Ltd., Mizuho Securities Co., Ltd., and SMBC Nikko Securities Inc. as the joint lead managers, and will determine the terms and conditions, including the date to determine the interest rate, issuance amount, and interest rate, in comprehensive consideration of demand, market environment, and others. The company will announce these matters as soon as they are determined.

Note: This announcement is prepared solely for purpose of public disclosure regarding the issuance of hybrid corporate bonds (no collateral and subordinated corporate bonds), and does not constitute a solicitation of investments or any similar acts.

(*) Please refer to September 30, 2016 press release:
MOL Enters into Agreement for Fund Procurement through Hybrid Loan

  • Press Release
    • 2022
    • 2021
    • 2020
    • 2019
    • 2018
    • 2017
    • 2016
    • 2015
  • About MOL
  • Corporate Profile
  • Corporate Mission
  • Directors, Auditors and Executive Officers
  • Organization
  • History
  • Location
  • MOL Group
  • Corporate Brochure/Video
  • MOL Services
  • Dry Bulkers
  • Tankers
  • Wind Power Energy Business
  • LNG Carriers
  • Offshore Business
  • Car Carriers
  • Ferries and Coastal RoRo Vessels
  • Containerships
  • Terminal
  • Logistics
  • Cruise Ship
  • Tugboat
  • Sustainability
  • Sustainability Management
  • Safety & Value
  • Environment
  • Human & Community
  • Innovation
  • Governance
  • External Recognition
  • Sustainability Data
  • GRI STANDARDS INDEX
  • MOL Report (to IR Library)
    Safety, Environmental and Social Report (Back Issues)
  • Investor Relations
  • Management Policy
  • Financial Information
  • IR Library
  • Share & Corporate Bond
  • IR Event Calendar
  • FAQ
  • Contact IR Office
  • IR Email Updates
  • Disclamer

Press Release

Contact Us

  • Privacy Protection Policies
  • Terms of Use
  • Sitemap

Copyright 1997- © Mitsui O.S.K.Lines All rights reserved.

PAGE TOP