On August 28, 2024, Development Bank of Japan Inc. ("DBJ") issued its USD 600 million, 17th sustainability bond (the 97th MTN). Sustainability bonds are bonds where the proceeds will be exclusively applied to finance or re-finance a combination of both green and social projects. This bond marks the 17th sustainability bond issuance by DBJ.
In terms of environmental aspect, beginning with antipollution measures implemented in the late 1960s, DBJ has provided loans and investments for environmental projects over the past 50 years. DBJ have launched DBJ Environmentally Rated Loan Program (ERLP) as the first financial institution in the world in 2004, and established DBJ Green Building Certification (GBC) in 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 have issued Sustainability Bonds since 2015 in a successive manner. Information on the Sustainability Bond Framework is available on our website. Sustainability ratings company ISS-Corporate has provided a second-party opinion on DBJ Sustainability Bond framework. More information on these is available on our website.
By investor type, the distribution was as follows: central banks and other official institutions 62%, banks 20%, asset managers 16% and others 2%. By geographical type, it was as follows: EMEA 42%, APAC 33% and Americas 25%.
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 | Global Market(144A/Reg.S) |
| Issue amount | USD 600 million |
| Maturity | 3 years (due on August 28, 2027) |
| Coupon | 4.000% |
| Re-offer price | 99.694% |
| Listing | Luxembourg Stock Exchange Euro MTF |
| Lead managers | Goldman Sachs International Citigroup Global Markets Limited Morgan Stanley & Co. International plc Nomura International plc |
| Signing date | August 20, 2024 |
| Closing date | August 28, 2024 |
| 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. |
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