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Finance

Hokkaido Nippon-Ham Fighters sustainability bond issued to aid ballpark development

ES CON Field Hokkaido

Featured image credit: Hokkaido Ballpark

NH Foods has announced it will issue the Hokkaido Nippon Ham Fighters Bonds, a sustainability bond aimed at private investors.

The issue has been expanded to private investors with company bonds totalling JPY20bn (£129.4m/€144.4m/$138.2m) after an issue with an upper limit of JPY10bn was offered to institutional investors in the previous year.

The issue aims to provide funds for the construction of the new baseball stadium ES CON Field Hokkaido, which is due to open in March next year, and in addition to the funds raised for the construction of the stadium last year, the bonds will total JPY30bn, which is half the total construction cost of JPY60bn.

The new stadium has obtained a five star rating, the highest in the Green Building Certification, an evaluation of environmental friendliness of real estate.

Masahito Kataoka, executive director of NH Foods, said in an online press conference: “We aim to make the stadium into a symbol of the people of Hokkaido. By extending the issue of the bonds to private investors we hope it will raise awareness of the project and the new stadium.”

The return on the bonds will be decided on October 7. Applications commence on October 11, with the issue slated for October 21.

The new stadium will encompass six stories and two basement levels with a total floor area of 50,000 square metres. The roof is a two layer structure, with one layer being a retractable roof which can be opened to promote growth of the natural grass playing surface. The stadium also features a mid-level terrace and a rooftop garden. To date, 92% of the construction has been completed.

The opening game of the 2023 season has been scheduled for March 30. Tsuyoshi Shinjo, head coach of Nippon Ham Fighters, said: “I have been to many ballparks, including Major League venues, but this is the best I’ve seen yet.”

Article provided by THE STADIUM HUB