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Tobu Railway Plans 20 Billion Yen Unsecured Bond Issue

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Tobu Railway (TYO:9001) will issue 20 billion yen of 138th and 139th series domestic straight unsecured unguaranteed bonds, split equally between five-year and seven-year securities, respectively, according to a Tokyo bourse filing on Friday.

The railway operator said it will issue 10 billion yen of five-year bonds at an annual interest rate of 2.590%, with redemption scheduled for Sept. 12, 2031.

The second 10 billion yen seven-year bond offering has an annual coupon of 2.964%, with redemption scheduled for Sept. 15, 2033, and payment for both issues is due on Sept. 15.

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