Japan Tobacco (JT) will issue USD 500 million (EUR 381 million) in five-year notes at a fixed annual rate of 2.1 per cent to diversify funding sources and raise capital for unspecified future needs, the company said.

“JT also believes (the debt issue will) contribute to mitigating foreign exchange risk to which JT is exposed as the company has grown its international tobacco business”, the cigarette company said in a statement.  Maturity date is 23 July, 2018. Subscription is limited to institutional investors.