The Norinchukin Bank Completes $1 Billion Green Bonds Offering
11.16.21
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Simpson Thacher recently represented The Norinchukin Bank in connection with a Rule 144A/Regulation S offering of US$500 million aggregate principal amount of 1.284% Senior Notes due 2026 and US$500 million aggregate principal amount of 2.08% Senior Notes due 2031. The Bank intends to use the net proceeds from the sale of the notes to finance, in whole or in part, existing and future qualifying environmentally-related projects under the Green Bond Framework adopted by the Bank.
First established in 1923, the Bank is a national-level financial institution created to support Japan’s agriculture, fishery and forestry cooperatives. The mission of the Bank is to contribute to the development of the agriculture, fishery and forestry industries and to national economic prosperity by facilitating access to financial resources.
J.P. Morgan Securities LLC and Crédit Agricole Corporate and Investment Bank acted as representatives of the initial purchasers.
The Simpson Thacher team for the transaction included Alan Cannon, David Snowden and Xochitl Romo (Capital Markets); and Michael Mann and Gurnaina Chawla (Tax).