Rakuten Group to Issue 400 Billion Yen in Bonds to Refinance Debt

MT Newswires Live10-19 08:37

Rakuten Group (TYO:4755) filed with the Kanto Local Finance Bureau on Friday to issue two series of unsecured bonds totaling 400 billion yen.

The offering consists of the 26th unsecured bond issue of 360 billion yen, which carries an annual coupon rate of 4.37% and matures on April 28, 2032, and the 27th unsecured bond issue of 40 billion yen, which carries the same 4.37% coupon rate and matures on April 22, 2032.

The subscription period runs from Oct. 19 through Oct. 28, with payment due on Oct. 29. Daiwa Securities, Mizuho Securities, and Mitsubishi UFJ Morgan Stanley Securities will underwrite the offering. Mizuho Bank will serve as the financial, issuing, and paying agent for both series, and as the bond administrator for the 26th series.

Proceeds from the 360 billion yen offer will fund the redemption of a 265.6 billion yen US dollar-denominated bond due in February 2027 and a 10 bllion yen domestic bond due June 2027.

The 40 billion yen raised from the other issue will replenish cash reserves.

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