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Fourth Series of Seibu Holdings Inc. Unsecured Straight Bonds (Green Bonds)

Overview of Fourth Series of Seibu Holdings Inc. Unsecured Straight Bonds (Green Bonds)

In December 2019, Seibu Holdings became the first company in the land transport industry to issue a wholesale Green Bonds.
A Green Bond is a bond issued by companies and local public entities, etc. to procure the funding required for green projects, such as environmental improvement projects , renewable energy projects, the construction or refurbishment of energy-efficient buildings, prevention and management of environmental pollution, and so on.
By issuing Green Bonds, in addition to further diversifying our funding methods, we will contribute to thebuilding of a sustainable society by providing a clean means of transportation and encouraging the spread of renewable energy.

Name of bonds Fourth Series of Seibu Holdings Inc. Unsecured Straight Bonds
(With Inter-Bond Pari Passu Clause) (Green Bonds)
Issue date December 12, 2019
Date of determination of issuance terms December 5, 2019
Issued term 10 years
Total amount of issuance 10 Billion Yen
Use of funds Repayment of the costs for introducing the new energy-saving train cars and the building for the solar power station
Press release A land transport industry first!
The Seibu Group to issue Green Bonds (wholesale bonds)>
Bond rating A- (Japan Credit Rating Agency, Ltd.)
A- (Rating and Investment Information, Inc.)

Third-Party Evaluation of Green Bond Eligibility

In order to issue the Green Bonds, the Group established a Green Bond framework in accordance with the Green Bond Principals (2018) and the Green Bond Guidelines (2017). In addition, the Group acquired a third-party evaluation from the Japan Credit Rating Agency, Ltd. (JCR) of Green 1, the highest score in the JCR Green Bond Rating system awarded for green bond eligibility.
In its evaluation of the Green Bonds, JCR also commented favorably on the contribution by the bond to achieving SDGs.

List of investors who have declared their investments in the Green Bonds

These are the investors who have declared that they will invest in the fourth series of unsecured straight bonds (Green Bonds).
(As of December 6, 2019, alphabetical order)

Daitokyo Shinkumi Credit Cooperative
The Fukushima Shinkin Bank.
The Gamagori Shinkin Bank
Hamamatsu Iwata Shinkin Bank
The Hanno Shinkin Bank
The Ichii Shinkin Bank
Kiryu Shinkin Bank
Kitagun Shinkumi
Miyazaki Miyakonojo Shinkin Bank
The Osaka City Shinkin Bank
The Rokinren Bank
The Seto Shinkin Bank
Sumitomo Mitsui DS Asset Management Company, Limited


① Allocation reporting (fund allocation report)

The entire value of the funds sourced on December 12, 2019 has been allocated to refinancing existing capital investments (related to the introduction of new energy-saving train cars, and a solar power station), including that for the fiscal year in which the issue was made.

Funds in hand after issuing expenses have been deducted from the issue value of the bonds
Target for fund allocation   Value of fund allocation
New energy-saving train car Part of the cost of the new “Laview“ limited express train (seven units) 2.5 Billion Yen
Part of the cost of the new “40000-Series“ commuter train (four units) 4.6 Billion Yen
Subtotal 7.1 Billion Yen
Construction of a solar power station Part of the cost of the Seibu Takeyama Solar Power Station 2.8 Billion Yen
  Total 9.9 Billion Yen

② Environmental improvement effects (impact report)

The environmental improvement effects generated by projects eligible for funding allocation from these Green Bonds are as follows.

※FY2022 results
Eligible projects   Reductions in CO2 emissions per km of transportation
New energy-saving train car New “Laview“ limited express train (per unit) 6,147
New “40000-Series“ commuter train (per unit) 5,052
Eligible projects   ** Annual power generated(MWh) Reductions in CO2 emissions
Solar power station Seibu Takeyama Solar Power Station 10,443 4,773
**This shows the scale of the power generated.