HTHIY - Kansai Electric Power Plans Second Nuclear Transition Bond Worth $191M | Benzinga
Kansai Electric Power Co. is set to issue Japan’s second transition bond to fund nuclear power projects.
What Happened: The Osaka-based utility aims to raise approximately ¥30 billion ($191 million) through the sale of transition notes in two tranches in July, according to SMBC Nikko Securities Inc., one of the underwriters, Bloomberg reported on Monday. The proceeds will be directed towards the company’s carbon-neutral initiatives, including nuclear power and zero-carbon thermal power projects.
Japan has seen a rise in transition bond sales following the government’s issuance of such debt earlier this year, which has provided implicit support. The government argues that these securities facilitate a more gradual achievement of climate goals for an industrialized nation ...