NTN Corporation finalizes terms for JPY 10bn subordinated bond issue

NTN Corporation announced on December 12, 2025, the finalization of issuance terms for its second series unsecured subordinated bonds. These bonds, offered through a public offering in Japan, have an issue amount of JPY 10 billion with an initial interest rate of 3.431%. The issue date is December 18, 2025, and the maturity date is December 18, 2055.

Interest will be paid semi-annually on June 18 and December 18, with the company retaining discretion to defer interest payments. Early redemption is possible from December 18, 2030, or after, on any interest payment date, or in the event of a Tax Event or an Equity Credit Change Event. The bonds are rated BBB- by Rating and Investment Information, Inc. and are subordinated to general debt but senior to common stock.

MUFG Bank, Ltd. will serve as the fiscal, issuing, and paying agent. The interest rate will be fixed until December 18, 2030, becoming variable thereafter with a step-up.