ESG Finance

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Overview of the Transition Bond
Bond Issued the 15th debenture bond (Transition Bond) the 16th debenture bond (Transition Bond)
Issuant amount 10 billion yen 10 billion yen
Maturity 5 years 10 years
Issuance date July 14, 2022 July 14, 2022
Interest rate 0.480% 0.879%
Use of Capital
  • Projects which meet the qualifying criteria set forth in the Idemitsu Kosan Co., Ltd. Green/Transition Bond Framework (new expenditures and refinancing of existing expenditures)
  • Turning refineries into CNX center*1 (SAF*2, etc.), Power and renewable energy projects, low carbon solutions projects for coal-fired power generation, etc.
Third-party appraisal organization
DNV Business Assurance Japan K.K.
Lead underwriters
  • Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
  • Daiwa Securities Co. Ltd.
  • Mizuho Securities Co., Ltd.
Structuring agent
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
Bond rating
A(R&I)
  • *1 Carbon Neutral Transformation center:Plan to transform our facilities such as refineries and plants to supply bases for next-generation energies with renewable energy, ammonia, biofuel, synthetic fuel, etc.
  • *2 Sustainable Aviation Fuel
Third-party Assessment on Eligibility
Second-party Opinion

We have, beforehand, formulated a green / transition bond framework, and through DNV Business Assurance Japan K.K., obtained second party opinions such as "Green Bond Principles 2021 (ICMA)", "Ministry of Environment Green Bond Guidelines 2020", "Climate Transition Finance Handbook 2020 (ICMA)" and "Basic Guidelines on Climate Transition Finance (May 2021)” announced by the Financial Services Agency, Ministry of Economy, Trade and Industry, Ministry of the Environment, upon issuing corporate bonds.

Ministry of Economy, Trade and Industry Model Project Selection

Idemitsu’s corporate bond was selected to be “FY2021 Climate Transition Finance Model Case" as the first model case in oil sector by the Ministry of Economy, Trade and Industry

Related link: Ministry of Economy, Trade and Industry model project selection (Japanese Only)
Transition Bond and Framework
List of Investors

Below are the investors who have expressed their willingness to invest in our Transition Bonds.

Related link: List of Investors(PDF: 187KB)

Reporting

We will update the status of fund allocation and environmental improvement results in the near future.

出光興産, DFF Inc.