DMG Mori's Finalizes Terms for 10 Billion Yen Bonds
DMG Mori (TYO:6141) has finalized the terms for its Sixth Perpetual Subordinated Bonds, totaling 10 billion yen with an original interest rate of 3.632% per annum.The bonds, which have no fixed redemption date, will be executed on June 4, and allow the company to defer interest payments at its discretion, according to a Tokyo bourse filing on Friday.Optional redemption of the entire principal becomes available on June 4, 2031, and on subsequent interest payment dates thereafter.The subordinated bonds rank below general debts but above common stock in payment priority, and carry a BBB rating from Rating and Investment Information.Proceeds will be fully used to redeem the company's Fourth series of perpetual subordinated bonds on Aug. 31, with Mizuho Securities, Nomura Securities, and SMBC Nikko Securities acting as underwriters.
