Kyushu Electric Power Co Stock (OTC: KYSEY)

Latest news for Kyushu Electric Power Co (OTC:KYSEY) Stock

KYUSHU ELECTRIC POWE

Kyushu Electric Power Co Inc supplies electricity services to Kyushu, Japan. Additionally, it operates across various smaller islands within the jurisdiction of Kyushu's prefectural government. Nuclear power generates most of the company's electricity, although it also generates electricity from hydroelectric power, geothermal, coal, oil, and natural gas. The firm owns the largest geothermal power facility in Japan. The company's segments include domestic electric power, other energy services, information and communication service, and others, which consists of a real estate business and nursing home business. The power generation segment accounts for most of the firm's revenue and is further split into the electricity energy segment.

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This issuance follows Japan&#39;s commitment to achieving carbon neutrality by 2050.

Kyushu Electric Raises $191M With Japan&#39;s First Nuclear-Focused Environmental Bond

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Kyushu Electric Power Co

Japan&#8217;s Kyushu Electric Power Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/KYSEY#OTC">KYSEY</a>) has successfully raised ¥30 billion ($191 million) from Japan&#8217;s inaugural environmental bond designated solely for nuclear projects, marking a significant milestone for the nuclear energy sector in the country.



What Happened: The power company, headquartered in Japan&#8217;s southernmost major island, priced a dual-tranche transition bond on Tuesday, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-05-28/kyushu-electric-raises-30-billion-from-nuclear-transition-bond?srnd=markets-vp">reported</a>. The funds are intended to refinance investments in nuclear-related projects, including existing emergency response centers for potential incidents like plane crashes or terrorist attacks.



This issuance follows Japan&#8217;s commitment to achieving carbon neutrality by 2050, which has enhanced the appeal of nuclear energy. Despite the ongoing challenge of identifying new radioactive waste disposal sites, the bond received strong investor interest.



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The five-year tranche of the deal received three times more orders than the amount raised, while the 10-year part received 1.1 times more, according to one of the underwriters.



Corporate transition bond sales have been on the rise in Japan since the government&#8217;s inaugural sale of such notes in February. The Ministry of Finance recently sold about ¥350 billion of climate transition bonds.



Why It Matters: The success of Kyushu Electric&#8217;s nuclear transition bond reflects a broader shift in Japan&#8217;s energy landscape. In late 2023, Japan&#8217;s <a href="https://www.benzinga.com/news/23/12/36396444/worlds-biggest-atomic-power-plant-in-japan-gears-up-for-a-comeback">largest nuclear power plant</a> geared up for a comeback, signaling a renewed interest in nuclear energy. This bond issuance further solidifies the growing importance of nuclear power in Japan&#8217;s energy transition.



Meanwhile, Japan is also making significant strides in its digital bond market. In December, the country saw its <a href="https://www.benzinga.com/fintech/23/12/36132097/japan-digital-bond-market-sees-largest-digital-green-bonds-sale-68m-by-hitachi">largest digital green bond sale</a>, indicating a broader shift toward sustainable and innovative financing methods in Japan&#8217;s financial sector.



Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39025870/heres-how-much-maga-coin-has-jumped-since-the-ex-president-said-if-youre-in-favor-of-crypt?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Here&#8217;s How Much MAGA Coin Has Jumped Since The Ex-President Said, &#8216;If You&#8217;re In Favor Of Crypto, You Better Vote For Trump&#8217;</a>



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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Kyushu Electric Raises $191M With Japan's First Nuclear-Focused Environmental Bond

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Tuesday, May 28, 2024

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