For debt investors

Maturity Profile

  • ※1 Outstanding bonds (ex loans)
  • ※2 October 2021 - end rate USD/JPY:113.67 EUR/JPY:131.44 GBP/JPY:155.65
  • ※3 For the purpose of the chart, the Apr 2081 and Oct 2083 subordinated bonds are reflected at their first call date in Jan 2026 and Oct 2028, respectively.

Considering historically low interest rates, the JT Group executed the liability management strategy from September to October 2021. Specifically, we extended the weighted average bond maturity from the 5.52 year to the 8.09 year by buying back $1,025MM of the existing bonds while issuing the same amount of new bonds.
Looking ahead, we will continue to maintain our financial stability by taking a maturity ladder into account, enabling us to adapt to changing trends in the financial market and business environment

Straight Bonds

(As of October, 2021)

Issuer Name ISIN Code Issues Issue Date Maturity Date Year Coupon Amount
Japan Tobacco Inc. JP372680BF75 No. 10 domestic straight bonds July 15,
2015
July 15,
2022
7 0.358 30,000 MM
(yen)
Japan Tobacco Inc. JP372680CF74 No. 11 domestic straight bonds July 15,
2015
July 15,
2025
10 0.599 25,000 MM
(yen)
Japan Tobacco Inc. JP372680AJ98 No. 12 domestic straight bonds September 10,
2018
September 08,
2023
5 0.110 60,000 MM
(yen)
Japan Tobacco Inc. JP372680BJ97 No. 13 domestic straight bonds September 10,
2018
September 08,
2028
10 0.355 30,000 MM
(yen)
Japan Tobacco Inc. JP372680CJ96 No. 14 domestic straight bonds September 10,
2018
September 10,
2038
20 0.758 10,000 MM
(yen)
JT International Financial Services B.V. XS1883352764 U.S. Dollar-Denominated senior Notes September 28,
2018
September 28,
2028
10 3.875 500 MM
(USD)
JT International Financial Services B.V. XS1883352095 Euro-Denominated senior Notes September 28,
2018
September 28,
2025
7 1.125 550 MM
(EUR)
JT International Financial Services B.V. XS1883352335 Pound Sterling-Denominated senior Notes September 28,
2018
September 28,
2033
15 2.750 400 MM
(GBP)
JT International Financial Services B.V. XS2082472122 Euro-Denominated senior Notes November 26,
2019
November 26,
2029
10 1.000 500 MM
(EUR)
JT International Financial Services B.V. XS2383503013 U.S. Dollar-Denominated senior Notes September 14,
2021
September 14,
2031
10 2.250 625 MM
(USD)
JT International Financial Services B.V. XS2383492902 U.S. Dollar-Denominated senior Notes September 14,
2021
September 14,
2051
30 3.300 400 MM
(USD)

Subordinated Bonds

(As of October 8, 2020)

Issuer Name ISIN Code Issues Issue Date Maturity Date Year Coupon Amount Remarks
JT International Financial Services B.V. XS2238783422 Euro-denominated Deeply Subordinated Guaranteed Fixed Rate Resettable Capital Securities due 2081 October 7,
2020
April 7,
2081
60.5 2.375 500 MM
(EUR)
※1
JT International Financial Services B.V. XS2238783778 Euro-denominated Deeply Subordinated Guaranteed Fixed Rate Resettable Capital Securities due 2083 October 7,
2020
October 7,
2083
63 2.875 500 MM
(EUR)
※2
  • ※1 The Issuer may redeem the Subordinated Bonds at its own discretion in the 3-month period ending on and including April 7, 2026 and on each interest payment date thereafter.
    Interest rate is fixed until April 7, 2026 and such fixed interest rate will be reset every 5 years thereafter. The interest rate will step-up by 25bps on April 7, 2031 and further by 75bps on April 7, 2046.
  • ※2 The Issuer may redeem the Subordinated Bonds at its own discretion in the 3-month period ending on and including January 7, 2029 and on each interest payment date thereafter.
    Interest rate is fixed until January 7, 2029 and such fixed interest rate will be reset every 5 years thereafter. The interest rate will step-up by 25bps on January 7, 2034 and further by 75bps on January 7, 2049.

Ratings

Rating Agency Long-term
Standard & Poor's A+
Moody's A2
R&I AA