• 4 minutes US-backed coup in Venezuela not so smooth
  • 7 minutes Why Trump will win the wall fight
  • 11 minutes Oil imports by countries
  • 13 minutes Maduro Asks OPEC For Help Against U.S. Sanctions
  • 12 hours Climate Change: A Summer of Storms and Smog Is Coming
  • 11 hours Tension On The Edge: Pakistan Urges U.N. To Intervene Over Kashmir Tension With India
  • 12 hours The Quick Read On MBS's Tour of Pakistan, India And China
  • 12 hours Iran Starts Gulf War Games, To Test Submarine-Launched Missiles
  • 11 hours BMW to add 2,000 more jobs at Dingolfing plant
  • 10 hours Teens For Climate: Swedish Student Leader Wins EU Pledge To Spend Billions On Climate
  • 14 hours Saudi A to Splash $100 Bln on India
  • 1 day Itt looks like natural gas may be at its lowest price ever.
  • 13 hours Venezuela: Nicolas Maduro closes border with Brazil
  • 7 hours Washington Eyes Crackdown On OPEC
  • 1 day Amazon’s Exit Could Scare Off Tech Companies From New York
  • 22 hours NEW FERUKA REFINERY
  • 9 hours Indian Oil Signs First Annual Deal For U.S. OilIndian Oil Signs First Annual Deal For U.S. Oil
The 30 Most Exciting Wildcat Plays Of 2019

The 30 Most Exciting Wildcat Plays Of 2019

As E&Ps are stepping up…

How Long Will This Oil Rally Last?

How Long Will This Oil Rally Last?

Oil prices have been trading…

Japan’s Tepco To Issue First Bond Since Fukushima Disaster

Nuclear Japan

In its first bond sale since the Fukushima nuclear tragedy in 2011, Tokyo Electric Power Co (Tepco) has filed plans to issue US$612 million (70 billion yen) worth of bonds, and investors who view this as guaranteed by the state may take interest.

According to Reuters, Tepco’s power transmission and distribution unit Tepco Power Grid Inc has filed with the Kanto Local Finance Bureau plans to issue a three-year bond worth US$262 million (30 billion yen) and a five-year bond worth US$349.6 million (40 billion yen). The coupons are expected to be set by 17 March 2017.

Tepco – which has US$5.681 billion (650 billion yen) in bonds due by March 2018 – wants to secure regular financing by regular bond issues, the company said.

Tepco has hired six companies to manage the bonds issue: SMBC Nikko Securities, Nomura Securities, Mitsubishi UFJ Morgan Stanley Securities, Mizuho Securities, Daiwa Securities, and Shinkin Securities.

After the Fukushima disaster, the world’s worst nuclear meltdown since Chernobyl in 1986, Tepco was basically nationalized by the government, which now owns 50.1 percent of the company.

Some investors see the government participation in Tepco as an implicit guarantee by the state for the utility.

Tepco is facing multi-billion costs related to decommissioning the Fukushima plant Late last year, the Japanese government almost doubled its forecast for costs to US$188 billion (21.5 trillion yen).

More recently, Tepco has had to cope with poor communications surrounding reported radiation levels inside a Fukushima reactor. While the radiation levels reported are higher than any reported since the 2011 disaster—prompting a global media scare—this is more of a Tepco PR failure than real news. Tepco is sending in robots closer to spent fuel as part of the recovery process, so radiation readings will necessarily be higher. The problem is largely Tepco’s inability to express itself to the public.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • j lien on February 15 2017 said:
    They can use the money to pay for the uranium that they are contracted to buy from Cameco.
    Currently they are in default of payment.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News