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PHOTO CREDIT: SHIPS & PORTS archive

 

Japanese shipping major Nippon Yusen Kaisha (NYK) has decided to launch bond sale in the amount of up to JPY 27 billion (USD 255.1 million).

According to data provided by the company, the unsecured bonds would be offered in two tranches.

The first tranche is for an amount of JPY 13 billion and has a maturity of five years. The closing date of the issue is August 29, 2019.

The amount of the second tranche is JPY 14 billion. The issue has a maturity period of 10 years, or until August 29, 2029.

NYK recently released its financial report for the period ended June 30, 2019, in which it noted that the company returned to the red. Namely, NYK ended the quarter with a profit of JPY 9.14 billion, compared to a loss of JPY 4.59 billion reported a year earlier.

However, the company’s revenue for the quarter dropped by 12.6 percent to JPY 406.4 billion from JPY 464.9 billion of revenue recorded in the same three-month period of 2018.


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