We advised the joint lead managers and joint bookrunners on the unregistered convertible notes offering

Davis Polk advised the joint lead managers and joint bookrunners, as to New York and U.S. law, in connection with an unregistered offering by Nippon Steel Corporation of ¥150 billion aggregate principal amount of its zero coupon convertible notes due 2024 and ¥150 billion aggregate principal amount of its zero coupon convertible notes due 2026.

Nippon Steel is Japan’s largest steelmaker and the fifth-largest globally by crude steel production value, possessing strong relationships with a quality client base.

The Davis Polk team included partner Jon Gray, counsel Christopher Kodama and associate Chihiro Sasaki. All members of the Davis Polk team are based in the Tokyo office.