Toyobo Co (JP:3101) has released an update.
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Toyobo Co., Ltd. has finalized the terms for its first issuance of unsecured subordinated bonds worth 17.0 billion yen, set to mature on September 12, 2061. These bonds feature an initial fixed interest rate of 2.885% until 2031, after which it becomes a floating rate with a potential step-up. The bonds, intended for public offering, are subordinate to general debt but senior to common stock, without any attached guarantees or securities.
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