Wed 4 Nov 2015
Well, the disaster is still around but Tepco is jumping back into the bond market. Oh, and thanks to the Japanese Government for selling off assets.
Tepco Mulls First Public Bond Sale in Japan Since Fukushima
October 18, 2015 — 10:08 PM CDT
Updated on October 18, 2015 — 11:14 PM CDT
Tokyo Electric Power Co. is considering returning to Japan’s bond market next September in the first public offering since the disaster at its Fukushima Dai-Ichi nuclear power facility in 2011.
Tepco, as the utility is known, plans to raise a total of 330 billion yen ($2.8 billion) in the fiscal year starting April 2016, the Nikkei newspaper reported Monday. The company has hired five sales managers including SMBC Nikko Securities Inc., according to the report. Tepco spokesman Tatsuhiro Yamagishi said the utility is considering bond sales from September but couldn’t confirm other details when reached by phone.
A public debt offering would be Tepco’s first in six years after it halted bond sales following the March 2011 earthquake and tsunami that caused a triple meltdown at the Fukushima site. The disaster put Tepco on the verge of default, with the head of Japan’s biggest stock market saying in 2011 that the company should file for bankruptcy protection. Tepco was saved by a 1 trillion yen infusion from the government the following year, the nation’s largest bailout since the 1990s.
Go there and read a little teeny bit. More next week.