Rakuten Group Inc (fka Rakuten Inc) (RAKUTN)

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Rakuten Group Inc (fka Rakuten Inc) (RAKUTN)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	COND	PRCD	RAKUTN	Rakuten Group Inc (fka Rakuten Inc)	-		3	APAC	Apr 15, 2021

Tranche #1Rakuten Group Inc (fka Rakuten Inc)

currency

USD

size (m)

750.000

maturity

type

Fixed

tenor

call

registration

144A/Reg S

benchmark

Tsy

ranking

Subordinated

moody's

s&p

fitch

size description

re-open/tap

ipt

Mid 5% a

ipt-pxd

guidance

spread

432.8

coupon

5.125%

spread set

price

100.00000

yield

5.125%

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #2Rakuten Group Inc (fka Rakuten Inc)

currency

USD

size (m)

1,000.000

maturity

type

Fixed

tenor

call

registration

144A/Reg S

benchmark

Tsy

ranking

Subordinated

moody's

s&p

fitch

size description

re-open/tap

ipt

Mid 6% a

ipt-pxd

guidance

spread

470.6

coupon

6.25%

spread set

price

100.00000

yield

6.25%

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #3Rakuten Group Inc (fka Rakuten Inc)

currency

EUR

size (m)

1,000.000

maturity

type

Fixed

tenor

call

registration

144A/Reg S

benchmark

Swaps

ranking

Subordinated

moody's

s&p

fitch

size description

re-open/tap

ipt

4.5% a

ipt-pxd

guidance

spread

449

coupon

4.25%

spread set

price

100.00000

yield

4.25%

book size (m)

4,000

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

4,000

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

P NC 5: Redemption: 2026-04-22; Registration: 144A/Reg S; Comments: USD750m hybrid perpNC5, sub, bmk 144A/Reg S. BB (BBB/BBB+ R&I/JCR). GS/MS/Daiwa/BofA/Miz/SMBC Nikko/Citi. IPTs mid 5% area. Alongside USD PNC10 and EUR tranche.; P NC 10: Redemption: 2031-04-22; Registration: 144A/Reg S; Comments: USD1bn hybrid perpNC10, sub, bmk 144A/Reg S. BB (BBB/BBB+ R&I/JCR). GS/MS/Daiwa/BofA/Miz/SMBC Nikko/Citi. IPTs mid 6% area. Alongside USD PNC10 and EUR tranche.; P NC 6: Book size: 4000; Redemption: 2027-04-22; Registration: 144A/Reg S; Comments: EUR1bn perp NC6 hybrid bmk 144A/Reg S. BB (S&P). With USD NC5 & NC10. BBB/BBB+ (R&I/JCR). GS(B&D)/MS/Daiwa/BofA/Miz/SMBC-Nikko/Citi. IPTs 4.5% area, launched 1bn at 4.25%. Books subj 4bn+.;

Deal Comments

Hybrid Yankee Bond. Active Bookrunners: GSC(B&D), MOS. Passive Bookrunners: DWA, BAM, MIZ, SMB, CTI

Use of Proceeds

Repay debt and general corporate purposes

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Rakuten Group Inc (fka Rakuten Inc) (RAKUTN)

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