Item 1.01. Entry into a Material Definitive Agreement.
On
The Notes were issued under an indenture, dated as of
The 2025 Notes will mature on
Upon the occurrence of a change of control (as defined in the Indenture) of the
Company and a contemporaneous downgrade of the Notes below an investment grade
rating by at least two of Moody's Investors Service, Inc.,
The Notes are general unsecured obligations of the Company. The Notes rank equally in right of payment with existing and any future unsecured and unsubordinated indebtedness of the Company and rank senior in right of payment to any existing and future indebtedness of the Company that is subordinated to the Notes. The Notes are also effectively subordinated to any existing and future secured indebtedness of the Company to the extent of the assets securing such indebtedness, and are structurally subordinated to all existing and any future indebtedness and any other liabilities of its subsidiaries.
The Indenture contains limited affirmative and negative covenants of the
Company. The negative covenants restrict the ability of the Company and its
subsidiaries to incur debt secured by liens on
Upon the occurrence of an event of default under the Indenture, which includes payment defaults, defaults in the performance of affirmative and negative covenants, bankruptcy and insolvency related defaults and failure to pay certain indebtedness, the obligations of the Company under the Notes may be accelerated, in which case the entire principal amount of the Notes would be immediately due and payable.
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The foregoing description is qualified in its entirety by reference to the full text of the Base Indenture and the Supplemental Indenture, which are filed with this report as Exhibits 4.1 and 4.2 hereto, respectively. Each of the foregoing documents is incorporated herein by reference.
Item 8.01. Other Events.
The sale of the Notes was made pursuant to the terms of an Underwriting
Agreement, which the Company entered into on
The Company expects that the net proceeds from the sale of the Notes will be approximately ¥109.1 billion, after deducting underwriting discounts and estimated offering expenses. The Company intends to use the net proceeds of the Offering for general corporate purposes, which may include the acquisition of companies or businesses, repayment and refinancing of debt, working capital and capital expenditures or the repurchase of its outstanding equity securities or the Company may temporarily invest the net proceeds in short-term, liquid investments until they are used for their ultimate purpose.
The foregoing description is qualified in its entirety by reference to the full text of the Underwriting Agreement, which is filed with this report as Exhibit 1.1 hereto and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description 1.1 Underwriting Agreement, datedOctober 14, 2022 , among the Company, as issuer, andCitigroup Global Markets Limited ,Mizuho Securities USA LLC ,MUFG Securities EMEA plc andSMBC Nikko Securities America, Inc. , as the several underwriters. 4.1 Indenture, dated as ofNovember 20, 2009 , between the Company, as issuer, andThe Bank of New York Mellon Trust Company, N.A. , as trustee (filed as Exhibit 99.1 to the Registrant's Current Report on Form 8-K filedNovember 20, 2009 File No. 1-8002 and incorporated in this document by reference). 4.2 Twenty-Fourth Supplemental Indenture, dated as ofOctober 20, 2022 , between the Company, as issuer, andThe Bank of New York Mellon Trust Company, N.A. , as trustee. 5.1 Opinion ofWilmer Cutler Pickering Hale and Dorr LLP . 23.1 Consent ofWilmer Cutler Pickering Hale and Dorr LLP (contained in Exhibit 5.1 above). 104 Cover Page Interactive Data File (embedded with the Inline XBRL document)
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