Singapore – Skadden Advises The Underwriters In Renesas Electronics Corporation’s US$1.35 Billion Offering Of Senior Notes, Including Senior Green Notes.

2 December 2021
 

Skadden advised Bank of America Securities, Inc., Morgan Stanley & Co. LLC, and Mizuho Securities USA LLC as the joint bookrunners and joint lead managers in the US$1.35 billion offering of senior notes by Renesas Electronics Corporation. The U.S. dollar-denominated notes were offered in two tranches in aggregate principal amounts of US$500,000,000 of 1.543% senior green notes due November 26, 2024, and US$850,000,000 of 2.170% senior notes due November 25, 2026. The notes were listed on the Singapore Stock Exchange.

 

Renesas Electronics Corporation is a leading global semiconductor company that designs, develops, manufactures, markets and distributes a broad range of semiconductor products and solutions. Renesas intends to use an amount equal to the net proceeds from the sale of the green notes to finance or refinance existing and future qualifying environmentally-related projects. This is the company's first issuance of foreign currency denominated bonds. The offering closed on November 26, 2021.

 

The Skadden team was led by partner Kenji Taneda, with Asia Pacific Counsel Ken Kiyota and associates Matthew Longarini and Jaewon Moon (Singapore). All attorneys are based in Tokyo, except where otherwise noted.