JAL Returns to Transition Bond Market as Sales Inch Higher
- Lack of clear standards hurt global growth for the note sales
- Air France-KLM priced a transition bond earlier this year
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Japan Airlines Co. is planning to return to the transition bond market, seeking cheaper funds as one of the few carriers issuing the debt in a market dominated by utilities.
The Tokyo-based airline has hired banks to sell about 10 billion yen ($72 million) of 10-year transition notes next week, according to underwriter Daiwa Securities Co. JAL last year undertook its debut sale of the debt designed to help companies in heavy-emitting industries become more energy efficient and reduce emissions.