Mitsubishi UFJ to Issue 1st "Coronavirus Bond" in Japan

Economy

Tokyo, May 11 (Jiji Press)--Japan's Mitsubishi UFJ Financial Group Inc. <8306> plans to issue a corporate bond to raise funds for measures against the new coronavirus, informed sources said Monday.

It will be the first "coronavirus bond" in Japan, the sources said.

Mitsubishi UFJ Financial aims to raise some 60 billion yen through the bond, to be issued as early as June.

The proceeds will be used to extend loans to financially struggling small businesses and help the development of coronavirus vaccines, the sources said.

The instrument will be a sustainability bond whose proceeds go exclusively to programs to tackle the environmental and social issues.

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Jiji Press