The Norinchukin Bank’s $1 Billion Green Bonds Offering

Simpson Thacher represented The Norinchukin Bank in the offering.

The Norinchukin Bank executed an 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.

J.P. Morgan Securities LLC and Crédit Agricole Corporate and Investment Bank acted as representatives of the initial purchasers.

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.

The Simpson Thacher team for the transaction included Alan Cannon (Picture), David Snowden and Xochitl Romo (Capital Markets); and Michael Mann and Gurnaina Chawla (Tax).

Involved fees earner: Alan Cannon – Simpson Thacher & Bartlett; Gurnaina Chawla – Simpson Thacher & Bartlett; Michael Mann – Simpson Thacher & Bartlett; Xochitl Romo – Simpson Thacher & Bartlett; David Snowden – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Norinchukin Bank;