TDK announces Issuance of Unsecured Straight Bonds
July 17, 2020
TDK Corporation (TSE:6762) today announced that TDK has determined the terms and conditions for the issuance of its 5th, 6th and 7th series of unsecured straight bonds (with special inter-bond pari passu clause), which will be offered and issued in Japan.
This bond issuance is based on our financial strategy to diversify funding resources and strengthen financial standings to pursue our sustainable growth in the future.
It has been 11 years since we previously issued the straight bonds in January 2009, and the funding amount of 100 billion yen through the straight bonds is the largest in our history.
The terms and conditions are as follows;
| TDK Corporation 5th Series Unsecured Straight Bonds (With Special Inter-Bond Pari Passu Clause) |
TDK Corporation 6th Series Unsecured Straight Bonds (With Special Inter-Bond Pari Passu Clause) |
TDK Corporation 7th Series Unsecured Straight Bonds (With Special Inter-Bond Pari Passu Clause) |
||
|---|---|---|---|---|
| 1 | Total amount of bond issuance | 30 billion yen | 30 billion yen | 40 billion yen |
| 2 | Denomination per bond | 100 million yen | ||
| 3 | Coupon rate (per annum) | 0.18％ | 0.31％ | 0.43％ |
| 4 | Issue price | 100% of the principal amount | ||
| 5 | Redemption price | 100% of the principal amount | ||
| 6 | Term and redemption method | 5 years 1)Redemption on maturity: July 28, 2025 2)Retirement by purchase retirement：The bonds can be repurchased and retired at any time from the day following the payment date |
7years 1)Redemption on maturity: July 28, 2027 2)Retirement by purchase retirement：The bonds can be repurchased and retired at any time from the day following the payment date |
10 years 1)Redemption on maturity: July 26, 2030 2)Retirement by purchase retirement：The bonds can be repurchased and retired at any time from the day following the payment date |
| 7 | Interest payment date | On July 28 and January 28 every year (First interest payment: January 28 2021) |
||
| 8 | Type of offering | Public offering | ||
| 9 | Offering period | July 17 2020 | ||
| 10 | Payment date | July 28 2020 | ||
| 11 | Collateral and guarantee | The bonds are not secured by any property or guarantee, nor have assets been specially pledged as collateral for the bonds. | ||
| 12 | Financial covenants | Negative pledge clause(with special inter-bond pari passu clause) attached | ||
| 13 | Joint lead managers | Nomura Securities Co.,Ltd. SMBC Nikko Securities Inc. Daiwa Securities Co. Ltd. Mizuho Securities Co., Ltd. |
||
| 14 | Book-entry transfer system application | The bonds are subject to regulations concerning the transfer of securities, bonds, etc | ||
| 15 | Fiscal, issue and payment agent | Resona Bank, Limited. | ||
| 16 | Book-entry transfer institution | Japan Securities Depository Center, Inc. | ||
| 17 | Rating | Rating & Investment Information, Inc.,(R&I): A+ | ||
About TDK Corporation
TDK Corporation is a world leader in electronic solutions for the smart society based in Tokyo, Japan. Built on a foundation of material sciences mastery, TDK welcomes societal transformation by resolutely remaining at the forefront of technological evolution and deliberately “Attracting Tomorrow.” It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products.
TDK's comprehensive, innovation-driven portfolio features passive components such as ceramic, aluminum electrolytic and film capacitors, as well as magnetics, high-frequency, and piezo and protection devices. The product spectrum also includes sensors and sensor systems such as temperature and pressure, magnetic, and MEMS sensors. In addition, TDK provides power supplies and energy devices, magnetic heads and more. These products are marketed under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics and TDK-Lambda. TDK focuses on demanding markets in automotive, industrial and consumer electronics, and information and communication technology. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2020, TDK posted total sales of USD 12.5 billion and employed about 107,000 people worldwide.
Contact for media
| Contact | Phone | ||
|---|---|---|---|
| Mr. Kazushige ATSUMI | TDK Corporation | +81 3 6778-1055 | TDK.PR@tdk.com |
