Simpson Thacher recently represented the initial purchasers, which included BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., SMBC Nikko Securities America, Inc., Mizuho Securities USA LLC and Daiwa Capital Markets America Inc., in connection with the inaugural offering by JAPAN POST INSURANCE Co., Ltd. (“Japan Post Insurance”) of $1 billion of 6.500% Step-up NC10 Subordinated Notes due 2056. The offering was made in reliance on Rule 144A and Regulation S.
Japan Post Insurance is the largest life insurance company in Japan, as measured by total payments of insurance and other claims, and is engaged mainly in the underwriting of life insurance policies and annuities products for individuals in Japan.
The Simpson Thacher team included David Snowden, Xochitl Romo and Yoshimi Koshiishi (Capital Markets – Tokyo); Jon Cantor (Tax – New York); Jennie Getsin (Blue Sky – New York); and Deborah Harris (Capital Markets - London).