"Davis Polk Advises Development Bank of Japan on $1 Billion Note Issuance"

"Davis Polk advised the Development Bank of Japan Inc. (DBJ) on updating its global medium-term note program, allowing for the issuance of notes with or without Japan's sovereign guarantee. Following this update, DBJ issued $1 billion in non-guaranteed senior notes due 2028, with proceeds aimed at long-term lending, investments, and working capital. DBJ, wholly owned by the Japanese government, continues a legacy of government finance institutions dating back to the 1950s. The advisory team included members from Davis Polk's offices in Tokyo, New York, and London."

Davis Polk & Wardwell LLP advised Development Bank of Japan Inc. (DBJ) in connection with the update of its global medium-term note program and the subsequent drawdown of non-guaranteed notes. The transaction involved DBJ updating its global medium-term note program, allowing for the issuance of notes on a Rule 144A / Regulation S or Regulation S-only basis, with or without the sovereign guarantee of Japan. Following this update, DBJ issued $1 billion aggregate principal amount of 3.875% senior notes due 2028, with the net proceeds intended for long-term lending, investments, and working capital. The Davis Polk corporate team included partner Christopher Kodama, associates Alexander Coley and Ayano Kitano, counsel Alon Gurfinkel, associates Kelli A. Rivers and Ya Sheng Lin providing tax advice, associates Rosina Curren and Uche I. Polanco offering 1940 Act advice, and counsel Chaoyuan (Charles) Shi providing ERISA advice. Members of the Davis Polk team are based in the Tokyo, New York, and London offices.

"Davis Polk Advises Development Bank of Japan on $1 Billion Note Issuance"

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