Utility to issue ¥50 billion in debt

JIJI

Kyushu Electric Power Co. plans to issue five-year debt securities worth ¥50 billion, company officials said Tuesday.

Kyushu Electric will be the fourth utility with nuclear power plants to issue debt since the nuclear crisis began at Tokyo Electric Power Co.’s Fukushima No. 1 power plant in March 2011.

Although Kyushu Electric initially considered a figure between ¥20 billion and ¥30 billion, the amount has grown thanks to strong investor demand.

Also on Tuesday, Tohoku Electric Power Co. said it will raise ¥25 billion by issuing debt securities with a maturity of seven years, more than the initially planned ¥15 billion, officials said.