Shimizu Corporation
Notice regarding the issuance of 2031 maturity Euroyen-denominated mandatory convertible bonds with stock acquisition rights and 2033 maturity Euroyen-denominated mandatory convertible bonds with stock acquisition rights
Today, by board resolution, the company will issue Euroyen-denominated mandatory convertible bonds with stock acquisition rights maturing in 2031 and 2033 (total amount 50 billion yen, bond face value 100.5%), and raise approximately 100 billion yen in proceeds. About 90 billion yen will be allocated to growth investments such as domestic and international M&A, real estate, and renewable energy, with about 10 billion yen allocated to share repurchases. At the same time, the framework for expanding the share repurchase program and ToSTNeT-3 purchases is announced. Going forward, the company intends to pursue financing that balances growth investment with capital efficiency.
Key Figures
- Net proceeds about 1000 billion yen
- Growth investment funds about 900 billion yen
- Share repurchase funds about 100 billion yen
AI要約
Overview
Shimizu Corporation, following a resolution by the board of directors, will issue Euroyen-denominated mandatory convertible bonds with stock acquisition rights maturing in 2031 and 2033, totaling 50 billion yen in bonds plus separate tranches of stock acquisition rights bonds. The offering is targeted mainly at Europe and Asia, totaling 50 billion yen in bonds plus a separate tranche of stock acquisition rights bonds. The payment date and issue date are set, at local time, to October 13, 2026. The issue price is 103.0% of face value. The net proceeds from the issue are about 1,000 billion yen, with about 900 billion yen allocated to growth investments such as domestic and international M&A, real estate, and renewable energy, and about 100 billion yen allocated to share repurchases.
Impact on investors and future
The stock acquisition rights bonds are structured with complex conversion, acquisition, and redemption terms to mitigate dilution and improve capital efficiency. The use of proceeds aims to balance growth investment and share repurchases. Going forward, the company will pursue an optimal capital structure by considering market conditions and funding costs.
Shimizu Corporation
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