Bond and Ratings
Information on Honda Motor Co., Ltd. is as follows;
About SDGs Bonds
Since its founding in 1948, Honda Motor Co., Ltd. (“Honda”) has continuously worked to provide value to help people and create a better society through our technologies, ideas and designs. The starting point of such efforts is our desire to “help people and society” and “expand the potential of people’s lives.”
In light of changes happening to our society, we believe that working in pursuit of the “elimination of our environmental impact” and “realization of safety protecting precious human lives” are values Honda should provide in the future. Based on this belief, we will work comprehensively to address these challenges in the areas of the environment and safety.
Honda has developed this Sustainable Finance Framework (the “Framework”) to raise funds for addressing these challenges through issuing bonds.
- Sustainable Finance Framework [PDF : 297KB]
Honda has obtained a second party opinion from Vigeo Eiris, which is now part of Moody’s ESG Solutions, that the Framework is aligned with the Green Bond Principles 2021 (the “GBP”), the Social Bond Principles 2021 (the “SBP”), and the Sustainability Bond Guidelines 2021 (the “SBG”) as administered by the International Capital Market Association (“ICMA”).
Bond Issues
As of Mar 31, 2023
| Description | Date of Issue | Maturity Date | Term | Amount | Interest Rate |
|---|---|---|---|---|---|
| USD-denominated Green Bond Due 2025 (Unsecured Straight Bond) | March 10, 2022 | March 10, 2025 | 3 years | USD 1,000 million | 2.271% per annum |
| USD-denominated Green Bond Due 2027 (Unsecured Straight Bond) | March 10, 2022 | March 10, 2027 | 5 years | USD 1,000 million | 2.534% per annum |
| USD-denominated Green Bond Due 2032 (Unsecured Straight Bond) | March 10, 2022 | March 10, 2032 | 10 years | USD 750 million | 2.967% per annum |
Honda Green Bond Report, August 2023
As of Mar 31, 2023
| Description | Date of Issue | Maturity Date | Term | Amount | Interest Rate |
|---|---|---|---|---|---|
| 13th Unsecured Straight Bond |
March 5, 2020 | March 5, 2025 | 5 years | 40,000 million yen | 0.120% per annum |
| 14th Unsecured Straight Bond |
March 5, 2020 | March 5, 2027 | 7 years | 20,000 million yen | 0.150% per annum |
Ratings
As of Mar 31, 2023| Agencies | Credit Ratings | |
|---|---|---|
| Short-term unsecured debt securities |
Long-term unsecured debt securities |
|
| Moody's Investors Service Website | P-2 | A3 |
| Standard & Poor's Rating Services Website | A-2 | A- |
| Rating and Investment Information, Inc. Website | a-1+ | AA |
The above ratings are based on information provided by Honda and other information deemed credible by the rating agencies. They are also based on the agencies' assessment of credit risk associated with designated securities issued by Honda. Each rating agency uses different standards for calculating Honda's credit rating, and also makes its own assessments. Ratings can be revised or nullified by agencies at any time. These ratings are not meant to serve as a recommendation for trading in or holding debt.