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TOKYO - East Japan Railway Company has launched a dual-currency bond offering consisting of a 12-year euro-denominated benchmark bond and a 20-year sterling-denominated benchmark bond, according to a press release issued Tuesday.
Mizuho International plc will serve as the Stabilisation Coordinator for the offering, alongside Barclays, BNP Paribas, and Morgan Stanley acting as Stabilisation Managers.
The stabilisation period is expected to begin on August 26, 2025, and conclude no later than September 25, 2025. During this period, the Stabilisation Managers may over-allot securities up to 5% of the aggregate nominal amount or conduct transactions to support the market price of the securities at levels higher than might otherwise prevail.
The senior unsecured, Regulation S only, registered notes will be offered outside the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, making them unavailable for sale in the U.S. market.
Pricing details for both the euro and sterling tranches have not yet been determined, according to the announcement.
The bond offering is specifically directed at qualified investors in European Economic Area Member States and at persons outside the United Kingdom or those within the UK who have professional experience in investment matters or are high net worth individuals.
East Japan Railway Company, commonly known as JR East, operates passenger railway services primarily in the eastern portion of Japan’s main island of Honshu.
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