Canadian Solar announced the successful placement of a JPY 18.5B green samurai private placement. Goldman Sachs Japan Co., Ltd., was the lead arranger and sole book runner with the domestic bond investors. The private placement has a 3-year tenor with a mix of both semi-annual fixed (1.82% p.a.) and floating (circa 1.49% p.a.) coupons. The Japan Credit Rating Agency, Ltd. has assigned this structured bond with an investment grade rating of “A-“. Also importantly, JCR certified the issuer with the highest Green 1 rating under the Japanese Green Bond guidelines. Orix Bank Corporation has been appointed as the trustee.
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