By Mary-Katherine Stinson
Lexington, Ky., April 11 – Rakuten Group Inc. will issue ¥50 billion of 6% senior notes due 2029 (BB) via a private placement in overseas markets outside Japan, according to a notice.
The company is expected to issue the notes on or around April 24.
Rakuten plans to use the proceeds to redeem corporate bonds maturing in 2025 and beyond. The yen-denominated bonds, together with $2 billion in recently sold dollar-denominated bonds, enable the company to prepare for the redemption of a total of ¥400 billion in unrated domestic corporate bonds maturing in February and June 2025, the company said in the notice.
Tokyo-based Rakuten is a Japanese technology conglomerate.
| Issuer: | Rakuten Group Inc.
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| Amount: | ¥50 billion
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| Issue: | Senior notes
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| Maturity: | April 24, 2029
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| Coupon: | 6%
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| Announcement date: | April 11
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| Settlement date: | April 24
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| Rating: | S&P: BB
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| Distribution: | Regulation S
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