Mitsui Fudosan Issues ¥100 billion Green Bond
Sustainable Financing Totals Over ¥700 billion
September 6, 2023
Mitsui Fudosan Co., Ltd.
Tokyo, Japan, September 6, 2023 –Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, announced today that it has fixed the pricing on the green bonds (environmental bonds, hereinafter the “Green Bonds”) for the refinancing of the following two properties: the Nihonbashi Muromachi Mitsui Tower (location: Nihonbashi Muromachi 3-Chome, Chuo-ku, Tokyo), and the Nihonbashi Mitsui Tower (location: Nihonbashi Muromachi 2-Chome, Chuo-ku, Tokyo).
The Green Bonds will be Mitsui Fudosan’s fifth issuance of green bonds, following those for the “Yaesu Central Tower, Tokyo Midtown Yaesu,” the “Otemachi One Tower,” and the “Nihonbashi Muromachi Mitsui Tower” in June 2023.
Our company established the Green Finance Framework and the Sustainability-Linked Loan Framework*1 to promote the “Group Action Plan to Realize a Decarbonized Society” formulated in November 2021 from a financing perspective. The issuance of the Green Bonds brings the company’s total sustainable financing, including green bonds, to over ¥700 billion, again the largest scale for a domestic real estate company.
By proactively continuing to work on sustainable financing, Mitsui Fudosan will contribute to diversification of fundraising methods and the realization of a sustainable society.
*1 For more information on the Green Finance Framework and Sustainability-Linked Loan Framework, please click here.
https://www.mitsuifudosan.co.jp/english/corporate/esg_csr/environment/08.html
< Properties for Use of Funds >
Nihonbashi Muromachi Mitsui Tower
Nihonbashi Mitsui Tower
■Outline of the Green Bonds
| Name | Mitsui Fudosan Co., Ltd. The 84th Unsecured Bonds (with Inter-Bond Pari Passu Clause) (Green Bonds) | Mitsui Fudosan Co., Ltd. The 85th Unsecured Bonds (with Inter-Bond Pari Passu Clause) (Green Bonds) | Mitsui Fudosan Co., Ltd. The 86th Unsecured Bonds (with Inter-Bond Pari Passu Clause) (Green Bonds) |
|---|---|---|---|
| Date of Issue | September 12, 2023 | ||
| Date of Pricing | September 6, 2023 | ||
| Maturity | 10 years | 15 years | 20 years |
| Issue Amount | ¥50 billion | ¥10 billion | ¥40 billion |
| Interest Rate | 1.057% | 1.578% | 1.831% |
| Use of Proceeds | The full amount will be used to fund the refinancing of the following two properties.*2 “Nihonbashi Muromachi Mitsui Tower” “Nihonbashi Mitsui Tower” (Obtained DBJ Green Building Certification (5-star) for both properties)  |
||
| Lead Managers | Nomura Securities Co., Ltd., SMBC Nikko Securities Inc., Daiwa Securities Co. Ltd., Mizuho Securities Co., Ltd., Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Okasan Securities Co., Ltd., Tokai Tokyo Securities Co., Ltd., BofA Securities Japan Co., Ltd. | Nomura Securities Co., Ltd., SMBC Nikko Securities Inc., Daiwa Securities Co. Ltd., Mizuho Securities Co., Ltd., Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., | |
*2 In cases where the funds need to be redirected, they may be done so for other green projects which meet the eligibility criteria set forth in the Green Finance Framework.
■Properties for Use of Funds
１． Nihonbashi Muromachi Mitsui Tower
| Location | 2-1, Nihonbashi Muromachi 3-Chome, Chuo-ku, Tokyo |
|---|---|
| Main Uses | Offices, retail stores, restaurants, theater |
| Site Area | Approx. 11,483 m2 |
| Total Floor Area | Approx. 166,727 m2 |
| Number of Floors | 26 floors above ground, 3 floors below ground |
| Access | Direct access to Mitsukoshimae Station (Tokyo Metro Ginza and Hanzomon Lines) Direct access to Shin-Nihonbashi Station (JR Yokosuka and Sobu (Rapid) Lines) |
| Date of Completion | March 2019 |
| Examples of Environmental Initiatives |
|
２．Nihonbashi Mitsui Tower
| Location | 1-1, Nihonbashi Muromachi 2-chome, Chuo-ku, Tokyo |
|---|---|
| Main Uses | Offices, retail stores, restaurants, hotel |
| Site Area | Approx. 14,375 m2 (including Mitsui Main Building and Mitsui Building No.2) |
| Total Floor Area | Approx. 133,855 m2 |
| Number of Floors | 39 floors above ground, 4 floors below ground, 1 penthouse floor |
| Access | Direct access to Mitsukoshimae Station (Tokyo Metro Ginza and Hanzomon Lines) Direct access to Shin-Nihonbashi Station (JR Yokosuka and Sobu (Rapid) Lines) |
| Date of Completion | July 2005 |
| Examples of Environmental Initiatives |
|
Mitsui Fudosan Group’s Contribution to SDGs
https://www.mitsuifudosan.co.jp/english/esg_csr/
The Mitsui Fudosan Group aims for a society that enriches both people and the planet under the principles of coexist in harmony with society, link diverse values and achieve a sustainable society, and advances business with an awareness of the environment (E), society (S) and governance (G), thus promoting ESG management. By further accelerating its ESG management, the Group will realize Society 5.0, which the Japanese government has been advocating, and contribute significantly to achieving the SDGs. In addition, the Group formulated the following Group guidelines related to “Realize a Decarbonized Society” and “Diversity & Inclusion Promotion” in November 2021, as well as to “Biodiversity” in March 2023. The Mitsui Fudosan Group will continue to work toward solving social issues through neighborhood creation.
[ References ]
・Group Action Plan to Realize a Decarbonized Society
https://www.mitsuifudosan.co.jp/english/corporate/news/2021/1124/
・Formulated Diversity and Inclusion Promotion Declaration and Initiatives Policy
https://www.mitsuifudosan.co.jp/english/corporate/news/2021/1129_02/
・Mitsui Fudosan Group Biodiversity Policy
https://www.mitsuifudosan.co.jp/english/corporate/news/2023/0413/
The initiatives covered in this press release are contributing to two of the UN’s SDGs.
| Goal 7 | Affordable and Clean Energy |
|---|---|
| Goal 11 | Sustainable Cities and Communities |
