We advised Nippon Life on its debut offering of senior notes

Davis Polk advised Nippon Life Insurance Company on a debut Rule 144A / Regulation S offering of $1.1 billion aggregate principal amount of its 4.748% senior notes due 2031 and $750 million aggregate principal amount of its 5.046% senior notes due 2033.

Nippon Life is the largest private life insurance company in Japan in terms of both assets and revenues. It holds the largest market share by premium income among private insurers in the Japanese life insurance market, the world’s fourth-largest life insurance market by premium volume.

The Davis Polk corporate team included partner Christopher Kodama and associates Akiko Okamoto and Andrew Masaru Orita. Counsel Alon Gurfinkel and associates Kelli A. Rivers and Ya Sheng Lin provided tax advice. Associates Rebecca Sattaur and Motunrayo Bamgbose-Martins provided 1940 Act advice. Counsel Chaoyuan (Charles) Shi provided ERISA advice. Members of the Davis Polk team are based in the Tokyo, London and New York offices.

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