住友化学株式会社September 6, 2024.
We announced on August 2, 2024 the issuance conditions for the third hybrid corporate bonds (subordinated unsecured bonds with solicitation and inferiority clause) (hereinafter referred to as "these bonds") in the public offering format, and we will inform you as follows today.
Record
| |
| 1. Total amount of bonds | JPY 100 billion |
| 2. Initial interest rate | 3.300% per year (Note 1) |
| 3. Payment due date | September 12, 2024. |
| 4. Redemption deadline | September 12, 2059 |
| 5. Early redemption (Note 2) | After September 12, 2029, the company may, at its discretion, redeem the bonds before maturity if there are tax reasons or capital changes that occur and continue after the payment date or after the payment date. |
| 6. Payment Date | March 12 and September 12 every year |
| 7. Optional Suspension of Interest Payments | The company may, at its discretion, defer all or part of the interest payment of the bonds on a certain interest payment date. |
| 8. Priority | The repayment of the bonds takes precedence over the company's general debts and has priority over common stock. |
| 9. Acquire credit rating | BBB+ (Credit Rating Investment Information Center Co., Ltd.) |
| 10. Capital nature | 'Class 3, Capital nature 50' (Credit Rating Investment Information Center Co., Ltd.) 'Medium, 50%' (Japan Credit Rating Research Institute Co., Ltd.) |
| 11. Underwriting securities company | Underwriter
SMBC Nikko Securities Inc. |
| 12. Financial Agent | Mitsui Sumitomo Bank, Ltd. |
Sumitomo Chemical Co., Ltd.(Note 1) From the day after September 12, 2024 to September 12, 2029, it is fixed interest rate, and from the day after September 12, 2029, it is variable interest rate (with a step-up of interest rates occurring on the day after September 12, 2029).
(Note 2) If the company redeems or purchases its corporate bonds (hereinafter, "early redemption, etc.") before the maturity redemption date of the corporate bonds, the company intends to raise funds by using securities or debts equivalent to or higher than the corporate bonds recognized as capital by common stock or rating agencies within the 12 months prior to the early redemption, etc. However, when conducting early redemption, etc. after the first optional redemption date of the corporate bonds, the company may decide to forgo funding through the issuance of substitutionary bonds if certain financial criteria are met.
Please be aware.
This announcement is intended to be made publicly regarding the issuance of public hybrid subordinated bonds (public subordinate bonds with special agreements), and is not intended for any investment solicitation or similar acts.
Above.
