MOL to Become World’s 1st Shipping Company to Issue Blue Bonds

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that it has decided to issue "blue bonds" through a public offering in Japan's domestic market in January 2024.

The bonds are the world's first blue bonds in the shipping industry, which refer to the guidance (Note 1) provided by the International Capital Markets Association (ICMA) and other organizations. The Blue Bond Framework developed for the issuance of the bonds will ensure that all uses of the bonds' proceeds will contribute to a sustainable blue economy, and the bonds received the highest rating of "Blue1(F)" (Note 2) from the Japan Credit Rating Agency, Ltd. (JCR) based on its expectation that they will have a positive environmental impact.