Nippon Steel Corporation
Notice Regarding the Determination of Issuance Terms for Euro-Yen Denominated Convertible Bonds with Stock Acquisition Rights Maturing in 2029 and 2031
Nippon Steel Corporation will issue 300 billion yen each of Euro-Yen denominated convertible bonds with stock acquisition rights maturing in 2029 and 2031, with an expected potential stock dilution rate of 15.63%.
Key Figures
- Total Amount of Convertible Bonds Maturing in 2029: 300 billion yen (increased from 275 billion yen at time of issuance resolution)
- Total Amount of Convertible Bonds Maturing in 2031: 300 billion yen
- Potential Share Dilution Ratio: 15.63% (ratio to total number of outstanding shares as of January 31, 2026)
AI要約
Overview of Convertible Bonds with Stock Acquisition Rights Issuance
Nippon Steel Corporation has decided to issue Euro-Yen denominated convertible bonds with stock acquisition rights maturing in 2029 and 2031, each amounting to 300 billion yen. The conversion price for the 2029 maturity bonds is set at 730.3 yen, and for the 2031 maturity bonds at 737.0 yen. The redemption amount at maturity is 104.16% and 104.01% of the face value respectively. The issue date is March 12, 2026, and the exercise period for the stock acquisition rights is from March 26, 2026, until January 31 of each maturity year.
Impact on Shareholders and Other Conditions
The issuance is expected to result in a potential stock-to-outstanding shares ratio of 15.63% based on the total number of shares issued as of January 31, 2026, indicating anticipated share dilution. The bonds will not be offered or sold in Japan, nor offered or sold in the United States. Detailed terms regarding early redemption, restrictions on the exercise period of the stock acquisition rights, and exercise restrictions in specific cases such as corporate reorganizations are also stipulated.
Nippon Steel Corporation
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