Astroscale ¥10bn zero-coupon euro-yen convertible bonds due 2029
With the ¥4.3bn share placement (about ¥30bn net in total): production capacity (¥4bn), existing facilities (¥3bn), building the LEXI-P life-extension satellite (¥7bn) and working capital (about ¥16bn)
Key terms
- Borrower or issuer
- Astroscale
- Date
- 20 May 2026
- Type
- Convertible
- Amount
- JPY 10bn (US$67m)
- Pricing
- Zero coupon; issued at 100%; conversion price ¥2,208 (15.00% premium to the ¥1,920 close)
- Maturity
- 2029-06-05
Recorded terms
- Structure
- Euro-yen convertible bonds sold to investors outside Japan (no US offering); paid in on 5 June 2026
- Lenders and arrangers
- Morgan Stanley & Co. International plc (active bookrunner and joint lead manager) and Mizuho International plc (passive bookrunner and joint lead manager)
- Country
- Japan
Parties
- Astroscale borrower or issuer
- bookrunner/arranger: Morgan Stanley, Mizuho
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|---|---|---|---|
| 15 Jul 2026 | AST SpaceMobile US$1.0bn 1.625% convertible notes due 2034 | Convertible | US$1bn |
| 11 Feb 2026 | AST SpaceMobile US$1.0bn 2.25% convertible notes due 2036 | Convertible | US$1bn |
| 28 Sep 2026 | Voyager Technologies US$402m convertible senior notes due 2032 | Convertible | US$402.5m |
| 13 Nov 2025 | Voyager Technologies US$435m 0.75% convertible senior notes due 2030 | Convertible | US$435m |
| 24 Oct 2025 | AST SpaceMobile US$1,000m convertible senior notes due 2036 | Convertible | US$1bn |
More from Astroscale
| Date | Financing | Type | Amount |
|---|---|---|---|
| 20 May 2026 | Astroscale ¥16.3bn No. 1 unsecured convertible bonds placed with Hulic | Convertible | JPY 16.3bn |
| 31 Mar 2025 | Astroscale ¥3bn commitment line from Resona Bank (2025) | Bank facility | JPY 3bn |
| 15 Mar 2024 | Astroscale ¥7bn loan and credit facility from MUFG Bank (2024) | Bank facility | JPY 7bn |
| 27 Apr 2023 | Astroscale ¥3bn revolving credit line from MUFG Bank (2023) | Bank facility | JPY 3bn |
| 30 Sep 2022 | Astroscale ¥5bn term loan from MUFG Bank (2022) | Bank facility | JPY 5bn |
| 31 Jan 2022 | Astroscale Japan ¥3bn loan from MUFG and Japan Finance Corporation (2022) | Bank facility | JPY 3bn |
M&A and investment involving Astroscale
| Date | Deal | Type | Value |
|---|---|---|---|
| 5 Jun 2026 | Hulic and SKY Perfect JSAT ¥4.3bn share placement in Astroscale | Strategic investment | JPY 4.3bn |
| 23 May 2025 | Astroscale ¥11.7bn international share offering | Equity raise | JPY 11.7bn |
| 5 Jun 2024 | Astroscale IPO on Tokyo Growth Market | IPO | JPY 18.84bn |
Sources
- Astroscale Holdings TDnet notice: issue of euro-yen convertible bonds due 2029 by international offering, and new shares and No. 1 convertible bonds by third-party allotment www2.jpx.co.jp · 19 May 2026
- Astroscale Holdings TDnet notice: determination of terms www2.jpx.co.jp · 20 May 2026
About this record
Record ORB-2026-0024, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A convertible pays a low coupon because holders can swap the notes for shares above a premium; capped calls and the conversion price set the dilution.
