Norinchukin Bank $1 billion senior notes offering
Davis Polk advised the joint lead managers and joint bookrunners in connection with the Rule 144A / Regulation S offering of senior notes by The Norinchukin Bank, which consisted of $500 million aggregate amount of 4.867% senior notes due 2027 and $500 million aggregate amount of 5.071% senior notes due 2032. The net proceeds of the 2027 notes will be allocated to new or existing “Eligible Green Projects” as defined under Norinchukin Bank’s “Green Bond Framework.” The notes are listed on the Singapore Exchange Securities Trading Limited.
The Norinchukin Bank is a financial institution in Japan established under the Norinchukin Bank Act to support Japan’s agriculture, fishery and forestry cooperatives by facilitating their access to financial resources.
The Davis Polk corporate team included partner Jon Gray, counsel Christopher Kodama and associates Alexander Coley and Haruka Moriya. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. Members of the Davis Polk team are based in the Tokyo and London offices.