MUFG to pool funds for pandemic-hit firms

It will issue sustainable bonds totalling $1.42b.

Japan’s MUFG is planning to raise funds from individual investors to help smaller firms and hospitals tackle the pandemic through issuing sustainable bonds worth $1.42b, reports Bloomberg.

The bank plans to issue the bonds in September after requests from retail investors.

Proceeds of MUFG’s debt sale will be used to help small-to-mid sized companies and hospitals fight the virus impact, as well as drugmakers developing vaccines and medicines, MUFG spokesperson Isamu Murofushi said.

The pandemic is boosting global sales of notes that aim to help governments, companies and other institutions weather through the crisis.

Here’s more from Bloomberg.