Recruit’s IPO Raises $1.8 Billion

The Tokyo office of Simpson Thatcher recently represented Recruit Holdings Co., Ltd. (“Recruit”) in connection with its initial public offering on the Tokyo Stock Exchange and global offering to institutional investors pursuant to Rule 144A and Regulation S under the Securities Act. Recruit sold 21,589,600 shares in the international offering, with an additional 6,000,000 shares sold by the selling shareholders in the international offering.

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Clifford Chance advises Mitsubishi Corporation on its acquisition of Cermaq ASA

Leading international law firm Clifford Chance has advised Mitsubishi Corporation on its voluntary cash offer for the entire issued share capital of Cermaq ASA, a multinational fish farming group listed on the Oslo Stock Exchange. The acquisition, which is valued at approximately NOK8,880million (£838million) completed earlier in November.

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Davis Polk Advises Hitachi, Ltd. on a $581 Million Secondary Offering of Western Digital Corporation Common Stock

Davis Polk advised Hitachi, Ltd. as the selling stockholder in connection with an SEC-registered secondary offering of 6,250,000 shares of Western Digital Corporation common stock. Goldman, Sachs & Co. and BofA Merrill Lynch acted as lead book-running managers and J.P. Morgan Securities LLC and RBC Capital Markets, LLC acted as joint book-running managers for the offering. The total net proceeds to Hitachi from the offering were approximately $581 million.

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Allen & Overy advises on financing for USD2.8 billion Donggi-Senoro project

Allen & Overy has advised on the financing for the USD2.8 billion Donggi-Senoro Liquefied Natural Gas (DSLNG) project which was signed today.

Donggi-Senoro LNG is the fourth liquefied natural gas (LNG) project in Indonesia and is scheduled to start production in mid-2015. The liquefaction plant will have the capacity to produce 2 million tons of LNG per year. The Republic of Indonesia has the largest economy in Southeast Asia and is the world’s fourth-largest exporter of LNG. DSLNG is the first LNG project in Indonesia to adopt a downstream development model, enabling separate development of upstream (natural gas and condensates production) and downstream (LNG and condensates) businesses. The Donggi-Senoro LNG project is only the world’s second non-integrated merchant LNG plant. Allen & Overy advised the project company, PT Donggi Senoro LNG, a subsidiary of the sponsors, Mitsubishi Corporation, PT Pertamina (Persero), Korea Gas Corporation (KOGAS) and PT Medco Energi Internasional TBK.

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Simpson Thacher Represents Managers in $1.5 Billion Senior Notes Offering by Mitsubishi UFJ Trust and Banking Corporation

Simpson Thacher recently represented the managers, led by Morgan Stanley & Co. LLC, Mitsubishi UFJ Securities (USA), Inc., Citigroup Capital Markets Inc., and J.P. Morgan Securities LLC, in an offering by Mitsubishi UFJ Trust and Banking Corporation (“MUTB”) of $1.5 billion aggregate principal amount of its fixed rate senior notes due 2017 and 2019. The offering was conducted pursuant to Rule 144A and Regulation S. The notes are listed on the Singapore Exchange.

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Mizuho Bank Completes Offering of an Aggregate of US$2.5 Billion of Senior Notes Guaranteed by Mizuho Financial Group

The Firm recently represented Japan’s Mizuho Bank, Ltd., as issuer, and Mizuho Financial Group, Inc., as guarantor, in connection with the offerings of US$500 million of 1.70% Senior Notes due 2017, US$1.0 billion of 2.65% Senior Notes due 2019, US$500 million of 3.60% Senior Notes due 2024 and US$500 million of Senior Floating Rate Notes due 2017, each pursuant to Rule 144A and Regulation S under the Securities Act. Mizuho Securities USA Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC and Goldman, Sachs & Co. were the joint lead managers for the offering. Mizuho Bank, Ltd. is one of Japan’s largest banks and is a wholly owned subsidiary of Mizuho Financial Group, Inc., one of Japan’s largest banking groups.

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Simpson Thacher Represents the International Managers in IPO of AEON REIT

The Firm recently represented the international managers in connection with the initial public offering of AEON REIT Investment Corporation on the Tokyo Stock Exchange, which included an international offering pursuant to Regulation S.  The offering raised ¥91.3 billion (approximately $900 million) for the issuer, which was used together with bank financing to acquire an initial portfolio of large-scale retail facilities from the Aeon Group.  Nomura, Mizuho and J.P. Morgan acted as international joint lead managers for the offering.

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