DBJ issued EUR 600m 12th Sustainability Bond
~ Green/Sustainability bond issuance for nine consecutive years ~

On September 1, 2022, Development Bank of Japan Inc. ("DBJ") issued its EUR 600 million, twelfth sustainability bond (the 91st MTN). Sustainability bonds are any type of bond instrument where the proceeds or an equivalent amount will be exclusively applied to finance or re-finance a combination of both green and social Projects. This bond marks the twelfth sustainability bond issuance by DBJ.

In terms of environmental aspect, beginning with antipollution measures implemented in the late 1960s and early 1970s, DBJ has provided loans and investments for environmental projects over the past 50 years. The DBJ Environmentally Rated Loan Program (ERLP) was incorporated into our product lineup in fiscal 2004, with DBJ Green Building Certification (GBC) following in fiscal 2011.
In terms of social aspect, we have responded to the crises such as natural disasters including the Great East Japan Earthquake, the global financial crisis and the outbreak of COVID-19.

DBJ issued its inaugural Green Bond in 2014 and Sustainability Bonds from 2015 to 2020 in a successive manner. In 2020, the outbreak of COVID-19 brought attention to sustainable finance, and especially to that of its social aspect. Under such circumstances, with various social challenges including high number of natural disasters, an aging population and infrastructure, as well as the outbreak of COVID-19, we saw a need to revise its Sustainability Bond Framework by expanding it to incorporate new eligible assets for both green and social aspects and have developed an updated framework focused on climate change mitigation, disaster resiliency and healthcare & social well-being. More information on this Framework is available on our website.

Sustainability ratings company ISS ESG has provided a second-party opinion on the DBJ Sustainability Bond framework. More information on these are available on our website.

By investor type, the distribution was as follows: central banks and other official institutions 27%, asset managers 34%, banks 32% and others 7%. By geographical type, it was as follows: EMEA 77%, APAC 23%.

In accordance with its Policy on Sustainability, which focus on the practice of sustainability management, DBJ commits to continuously issuing sustainability bonds in the future. In line with our "Design the Future with Financial Expertise" corporate philosophy, DBJ will actively support clients that exhibit high environmental and social awareness.

The main terms of the bonds

Issuer Development Bank of Japan Inc.
Market Euro Market
Issue amount EUR 600 million
Maturity 4 years (due on September 1, 2026)
Coupon 2.125%
Re-offer price 99.674%
Listing Luxembourg Stock Exchange Euro MTF
Lead managers Daiwa Capital Markets Europe Limited
J.P. Morgan Securities plc
Merrill Lynch International
Nomura International plc
Signing date August 26, 2022
Closing date September 1, 2022
Bond ratings A1: Moody's, A: S&P

This communication does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States, Japan or any other jurisdiction where such an offer or solicitation would be unlawful. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or an exemption from registration, and any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer and that will contain detailed information about the issuer and management, as well as financial statements. The securities referred to herein have not been and will not be registered under the Securities Act.

Treasury Department Phone: +81-3-3244-1820
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