Clifford Chance, a global law firm, has advised the Joint Lead Managers, including MUFG Securities Asia, on Mitsubishi UFJ Financial Group's (MUFG) AU$500 million issuance of Additional Tier 1 (AT1) perpetual securities. This transaction marks MUFG's first Australian dollar-denominated AT1 issuance, expanding the group's funding sources and investor base.
The Clifford Chance team was led by Matthew Ball, with support from Xavier Chan in Tokyo. Cameron Dwyer and Stef Yakubova in London, along with Avrohom Gelber and Gil Shauly in New York, advised on tax aspects. Matthew Ball commented, "We are delighted to support MUFG on this transaction, which highlights the opportunities available to Japanese issuers seeking to reach new investor bases. As an offering of AT1 securities governed by English law by a Japanese bank, the transaction marks an important milestone in the development of cross-border capital markets in Asia Pacific."
This transaction builds on Clifford Chance's longstanding relationship with MUFG. Most recently, the firm advised MUFG on the expansion of its structured notes business, broadening the group's product offering and access to international investors.