Latest Tokyo Brief coverage on Hokkaido Electric Power Company, Incorporated, tracking filings, financial news, and market signals from Japan.
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Hokkaido Electric Power priced a 3.458% coupon on ¥30bn of new 10-year bonds and is routing the proceeds to its grid subsidiary for renewable-linked network upgrades, including expansion of the undersea interconnection with Honshu.
Hokkaido Electric's first public hybrid bond fixes a 3.393% coupon until 2033, runs to a 2063 maturity, and gives the utility discretion to defer interest payments, terms that let R&I and JCR count half the ¥80bn issue as equity rather than debt.