ANAHD to Issue Bond-Type Preferred Stocks, Raising up to 200 Billion Yen

ANA Holdings will issue bond-type preferred stocks. The board of directors has resolved to submit a partial amendment to the articles of incorporation at the annual shareholders meeting and to proceed with the issuance registration.

The company plans to apply for listing on the Tokyo Stock Exchange’s Prime Market, with an issuance amount of up to 200 billion yen. In principle, there is a possibility of acquiring cash consideration starting five years after the issuance date.

Interest payment is scheduled twice a year, with a fixed interest rate based on a base rate plus an initial spread for approximately the first five years, after which a preferred dividend with a variable base rate plus the initial spread and 1% will be paid. There are no voting rights or conversion rights to common stock, and no shareholder benefits will be offered.