Japan's Mitsui Fudosan is world's first developer to sell 0.001% bonds

Tokyo

JAPAN'S Mitsui Fudosan Co sold bonds on Wednesday that pay investors a coupon of 0.001 per cent, marking the first time for a real estate developer to sell non-convertible fixed-rate debt that close to zero.

The nation's largest property company by sales will pay investors about US$890 a year for borrowing 10 billion yen (S$125 million) in a three-part deal, an amount that could pay for a dinner for two or three people at Nobu in Tokyo.