We advised the joint lead managers and joint bookrunners on the inaugural green bond offering

Davis Polk advised the joint lead managers and joint bookrunners in connection with the debut Rule 144A / Regulation S offering of senior notes by The Norinchukin Bank, which consisted of $500 million aggregate amount of 1.284% senior notes due 2026 and $500 million aggregate amount of 2.080% senior notes due 2031. The net proceeds of the notes will be allocated to new or existing “Eligible Green Projects” as defined under Norinchukin Bank’s “Green Bond Framework.” This was Norinchukin Bank’s inaugural green bond issuance. 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 Chihiro Sasaki and Alexander Coley. Counsel Alon Gurfinkel and associate Ben Levenback provided tax advice. Members of the Davis Polk team are based in the Tokyo, London and New York offices.

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