Kansai Electric: rare USD issuer with focus on nuclear

Kansai accounts for 50% of Japan’s nuclear operating capacity and is therefore a key player in the country’s low-carbon transition plan. In recent years it has ramped up efforts to move away from fossil fuels, even cancelling a 3.7GW LNG-fired power plant in 2023.

The new bond issuance is likely an effort to maintain the company’s dollar lines as it continues with capital expenditures and debt repayments that support its low-carbon transformation.