Chubu Electric Power Co. said Thursday it will issue debt in Japan to raise ¥20 billion mainly to finance safety measures at its suspended nuclear power plant and debt redemption.
The five-year note issue will be placed on Sept. 21, representing the firm's first debt issuance in nearly two years, the utility said.
Chubu Electric plans to raise a total of around ¥600 billion in fiscal 2012, ending March 31, to finance not only capital spending and debt redemption but also increasing fuel costs stemming from the halt of its Hamaoka nuclear complex in Shizuoka Prefecture.