Japan’s First Bond to Help Ocean Planned by Seafood Firm
- Maruha Nichiro may sell 5 billion yen 5-year note next month
- Only handful of issuers globally have sold blue bonds so far
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Major Japanese seafood company Maruha Nichiro Corp. is planning to sell the country’s first blue bond next month to fund sustainable fisheries.
The firm mandated Mizuho Securities Co. and Mitsubishi UFJ Morgan Stanley Securities Co. to manage the 5 billion yen ($35 million) offering of five-year notes, according to a filing. It’s the company’s debut bond, and the money raised will go into projects including salmon farming.