Osaka Gas to Issue 50-Year Bonds

Economy

Tokyo, Aug. 30 (Jiji Press)--Osaka Gas Co. <9532> said Friday that it will issue 10-billion-yen 50-year bonds with a 0.7 pct coupon on Thursday.

It is the first time for the company to issue bonds with the maturity period. The move is designed to capitalize on extremely low domestic interest rates.

Among other major Japanese companies, Mitsubishi Estate Co. <8802> and East Japan Railway Co. <9020>, or JR East, issued 50-year bonds in April and July, respectively.

Osaka Gas will also issue a combined 25 billion yen's worth of 30- and 39-year bonds on Thursday.

The procured funds will be used to redeem maturing commercial paper and for investment in facilities and equipment.

[Copyright The Jiji Press, Ltd.]

Jiji Press