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Notification of Shelf Registration and Assignment of Credit Rating Concerning Issuance of Corporate Bonds
Jan 31, 2017
Recruit Holdings, Co., Ltd. (the "Company") hereby announces that it has submitted today a shelf registration statement for its corporate bonds to the Director-General of the Kanto Local Finance Bureau.
The Recruit Group (the "Group"), in line with its Mid-Term Management Strategy, plans to further accelerate investments for growth, including M&As. In terms of financing to enable such investments, the Company recognizes that, given the recent interest rate environment, it is a material management agenda to secure more diversified means of financing.
Based on this recognition, the Company has decided to file the shelf registration statement for the purpose of diversifying financing means. The outline of the shelf registration is as follows.
Outline of the Shelf Registration Statement
| (1) | Planned amount of issue | JPY200 billion |
|---|---|---|
| (2) | Planned term | From the planned effective date of the shelf registration to the date on which two years will have elapsed (From February 8, 2017 to February 7, 2019) |
| (3) | Use of funds | Working capital, capital expenditure, repayment of borrowings, redemption of commercial papers, purchase of securities, share repurchase, investments and loans |
As of today, Rating and Investment Information, Inc. (R&I) has assigned a preliminary "AA-" rating to the Company's shelf registration. For details of its rating definition and rationale, please refer to the press release issued by R&I.
For reference, the planned amount of issue denotes the cap amount to be issued during the planned term as stated above. Upon actual issuance, the Company will determine the timing, the amount, and other terms in a flexible manner, with consideration to the market environment.
