Davis Polk advised the joint global coordinators in connection with the secondary offering of 45,617,500 shares of common stock of Shinsei Bank, Limited, which included over-allotment options of 5,950,000 shares. The shares were sold by shareholders affiliated with J.C. Flowers & Co. LLC, a Delaware limited liability company. The global offering consisted of an offering in Japan and an international offering outside Japan pursuant to Rule 144A and Regulation S. The shares are listed on the Tokyo Stock Exchange. The aggregate proceeds of the global offering are approximately ¥63.2 billion (approximately $594.9 million).

Shinsei Bank is a Japanese financial institution providing a range of financial products and services to both individual and institutional customers.

The Davis Polk corporate team included partner Jon Gray, counsel Christopher Kodama and associates Chihiro Sasaki and Mari Foster. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Members of the Davis Polk team are based in the Tokyo and London offices.