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Kirin to issue 70 bln yen in bonds – Nikkei

Japanese beverage maker Kirin Holdings Co plans to issue straight bonds worth 70 billion yen ($912.4 million) as long-term yields decline in a low interest rate environment, the Nikkei business daily reported today.

Straight bonds are basic debt instruments that pay interest at regular intervals and give back the originally invested principal when they mature.

The company will issue bonds worth 30 billion yen in a five-year tranche and a ten-year issue for the remaining 40 billion yen, the paper reported.

Terms of the bond issue is expected to be decided this week.

Kirin will use the proceeds to pay back short-term debt and redeem commercial paper, the business daily said. ($1 = 76.720 Japanese Yen)

15 Sep. 2011

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