OSG prepares ¥5 billion inaugural green bond with five-year tenor

By Mary-Katherine Stinson

Lexington, Ky., March 9 – OSG Corp. is preparing to issue a ¥5 billion inaugural green bond with a five-year tenor as soon as April, according to a notice.

The issue will be the first green bond issue by a cutting-tool manufacturer, the company stated in the notice.

Nomura Securities Co., Ltd., SMBC Nikko Securities Inc. and Mizuho Securities Co., Ltd. are the lead underwriters for the series 3 bonds.

Nomura is also the structuring agent.

Proceeds will be used for capital investment and research and development related to projects categorized as energy-saving, environmentally-efficient and initiatives to address climate change.

OSG, based in Tokyo, manufactures and sells precision machine tools and operates in four segments including Japan, Americas, Europe, Africa and Asia.

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