The Norinchukin Bank Completes $1 Billion Senior Notes Offering
09.15.22
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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 4.867% Green Bond Senior Notes due 2027 and US$500 million aggregate principal amount of 5.071% Senior Notes due 2032. The Bank intends to use the net proceeds from the sale of the notes due 2027 to finance existing and future qualifying environmentally-related projects under the Green Bond Framework adopted by the Bank and the net proceeds from the sale of the notes due 2032 for general corporate purposes.
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 Citigroup Global Markets Inc. 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 (Tax).