Davis Polk Advises Sumitomo Mitsui Banking Corporation on $3 Billion Concurrent Guaranteed Senior Bond Offerings

Davis Polk advised Sumitomo Mitsui Banking Corporation in connection with its $3 billion senior debt offering in reliance on the Section 3(a)(2) exemption of the Securities Act. The offering consisted of $1 billion of 1.35% senior bonds due 2015, $1.25 billion of 1.8% senior bonds due 2017 and $750 million of 3.2% senior bonds due 2022, each guaranteed by Sumitomo Mitsui Banking Corporation’s New York branch. The joint lead managers for the offering were Goldman, Sachs & Co., Citigroup Global Markets Inc., Barclays Bank PLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated. SMBC Nikko Securities served as international offering coordinator.

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Milbank Represents Nippon Telegraph and Telephone in Its First US Registered Offering in 14 Years

International law firm Milbank, Tweed, Hadley & McCloy LLP, led by Global Securities partner Robert W. Mullen, Jr., represented Nippon Telegraph and Telephone (“NTT”) in its global offering of US$750 million 1.4% Notes due 2017. This was the first registered offering by NTT in 14 years and was priced with the lowest coupon in the Yankee space.

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Simpson Thacher Represents the Initial Purchasers in US$3 Billion Senior Debt Offerings by Sumitomo Mitsui Banking Corporation

The Firm recently represented the initial purchasers in connection with the offering of US$3 billion of Senior Bonds in three tranches due 2015, 2017 and 2022 by Japan’s Sumitomo Mitsui Banking Corporation, guaranteed by the bank’s New York branch. The Senior Bonds were offered and sold in reliance on the exemption from SEC registration provided in Section 3(a)(2) of the Securities Act. Goldman Sachs & Co., Citigroup Global Markets Inc., Barclays Bank PLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and SMBC Nikko Capital Markets Limited were the Joint Lead Managers for the offering.

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Simpson Thacher Represents the Underwriters in US$750 Million Senior Debt Offering by Nippon Telephone and Telegraph Corporation

The Firm recently represented the underwriters in connection with the public offering of US$750 million of 1.4% Notes due 2017 by Japan’s Nippon Telegraph and Telephone Corporation. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc. and Morgan Stanley & Co. LLC were the Joint Book-Running Managers for the offering.

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Simpson Thacher Represents the Initial Purchasers in US$3 Billion Debt Offering by Takeda Pharmaceutical

The Firm represented the initial purchasers in connection with a Rule 144A/Regulation S offering of US$1.5 billion of 1.031% Senior Notes due 2015 and $1.5 billion of 1.625% Senior Notes due 2017 by Japan’s Takeda Pharmaceutical Company Limited. Nomura Securities and JP Morgan Securities were the Joint Lead Managers for the offering.

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Davis Polk – The Korea Development Bank Notes Reopening

Davis Polk advised Barclays Bank PLC, Citigroup Global Markets Inc., KDB Asia Limited, Standard Chartered Bank and UBS AG, Hong Kong Branch as underwriters in connection with a Schedule B debt offering by The Korea Development Bank of $500 million in aggregate principal amount of its 3.5% notes due 2017. The notes are consolidated and form a single class of notes with the $750 million aggregate principal amount of 3.5% notes due 2017 issued on February 22, 2012.

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Paul Hastings Advises Japanese Amusement Ride Company Sansei Yusoki on U.S. Acquisition

Paul Hastings, a leading global law firm, announced today that it is representing Sansei Yusoki Co., Ltd., an Osaka-based company engaged in the design, manufacture, repair and maintenance of amusement rides, stage equipment and elevators on its contemplated acquisition of a stake in S&S Worldwide, one of the world’s leading amusement rides and rollercoaster manufacturers located in the U.S. Following the signing of the MOU and the official transfer of shares in July 2012, S&S Worldwide will retain its headquarters and manufacturing facilities in Logan, Utah.

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