TOKYO—Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that as of today, it has concluded a contract for 50 billion yen funding through new hybrid loan(the “New Hybrid Loan”) as outlined below. Meanwhile, like the hybrid corporate bonds announced in the March 17, 2021, press release: “MOL Announces Issuance of Publicly Offered Hybrid Corporate Bonds”, the loan will be used to fund part of the early repayment of the existing hybrid loan(the “Existing Hybrid Loan) concluded on September 30, 2016, (Note 1).

1. Outline of the New Hybrid Loan

(1) Signing date September 30, 2021
(2) Loan amount 50 billion yen
(3) Maturity date October 9, 2056 However, MOL may repay all or part of the principal on any interest payment date thereafter five years from the loan execution date, or upon occurrence of any predefined early repayment events.
(4) Replacement restrictions In case of an early repayment as above, MOL intends to raise funds that credit rating agencies have approved at the same or higher equity credit as the New Hybrid Loan. However, it may not make the above procurement in case its financial indices meet a specified level. In case the financial indices are at a considerably higher level, MOL may make early repayment without procuring the funds that have the same or higher level of equity credit than the New Hybrid Loan, even before five years from the loan execution date.
(5) Deferral of interest payments MOL may defer all or part of the interest payments at its discretion, subject to mandatory payment clauses.
(6) Acquired rating BBB (Japan Credit Rating Agency, Ltd.)
(7) Equity credit Middle Level,50%

(Note 1) Please refer to September 30, 2016, press release:
MOL Enters into Agreement for Fund Procurement through Hybrid Loan

2. Early Repayment of Existing Hybrid Loan

MOL will complete an early repayment of the Existing Hybrid Loan(Note 1) on October 7, 2021.

For further information, please contact:

Mitsui O.S.K. Lines, Ltd.

Media Relations Team, Corporate Communication Division

E-mail: mrtmo@molgroup.com / TEL: 03-3587-7015 / FAX: 03-3587-7705