Hitachi Capital units get consents to amend 111 series of notes

By Taylor Fox

New York, Dec. 11 – Hitachi Capital (UK) plc (HCUK) and Hitachi Capital America Corp. (HCA) received consents from eligible holders of 81 series of outstanding HCUK notes and 30 series of outstanding HCA notes to modify the terms and conditions of the notes following Hitachi Capital Corp.’s merger with Mitsubishi UFJ Lease & Finance Co. Ltd., according to a company announcement.

In each respect, the companies received 100% of votes in favor of the extraordinary resolution with 92.54% of the HCUK consent instructions submitted and 98.69% of the HCA consent instructions submitted.

A meeting of the noteholders was held at 5 a.m. ET on Dec. 11 via teleconference for holders of the HCUK notes and at 5:05 a.m. ET on Dec. 11 for holders of the HCA notes.

As previously reported, the modifications include Mitsubishi assuming the right and obligations of Hitachi in respect of the notes, reference to the merger in the conditions and issuer substitution provisions that will allow Hitachi to consolidate with the new guarantor or any of its subsidiaries following the completion of the merger.

All holders who consented to the extraordinary resolution by the 11 a.m. ET on Nov. 27 early instruction deadline were eligible to receive a consent payment of 0.05% of the notes.

Hitachi will pay £0.5656 per £1,000 of HCUK notes for a total fee of £1,152,163.07 and $0.5066 per $1,000 of HCA notes for a total fee of $191,500.06.

The instruction fee is expected to be paid on Dec. 18 and will be paid in the currency in which the notes are denominated.

The resolution is expected to become effective April 1.

HCA notes

The HCA notes are as follows:

• Series 522 $10 million fixed-rate notes due March 30, 2021 (ISIN: XS1584040874);

• Series 591 $30 million 3.637% fixed-rate notes due June 22, 2021 (ISIN: XS1843234433);

• Series 597 $5 million fixed-rate notes due Aug. 3, 2021 (ISIN: XS1861555644);

• Series 599 $15 million fixed-rate notes due Aug. 27, 2021 (ISIN: XS1870312904);

• Series 600 $15 million 3.475% fixed-rate notes due Aug. 27, 2021 (ISIN: XS1871136872);

• Series 601 $5 million 3.448% fixed-rate notes due Aug. 31, 2021 (ISIN: XS1872356693);

• Series 598 $5 million fixed-rate notes due Sept. 7, 2021 (ISIN: XS1869456381);

• Series 611 $20 million 3.824% fixed-rate notes due Oct. 17, 2021 (ISIN: XS1894626115);

• Series 509 $50 million floating-rate notes due Oct. 25, 2021 (ISIN: XS1506036257);

• Series 510 $5 million fixed-rate notes due Oct. 25, 2021 (ISIN: XS1508405112);

• Series 511 $5 million fixed-rate notes due Oct. 26, 2021 (ISIN: XS1506667325);

• Series 513 $10 million fixed-rate notes due Nov. 8, 2021 (ISIN: XS1509102932);

• Series 634 $30 million fixed-rate notes due March 15, 2022 (ISIN: XS1963372021);

• Series 588 $10 million 3.533% fixed-rate notes due June 13, 2022 (ISIN: XS1837145389);

• Series 592 $10 million 3.545% fixed-rate notes due June 27, 2022 (ISIN: XS1846654090);

• Series 602 $5 million fixed-rate notes due Sept. 6, 2022 (ISIN: XS1875373638);

• Series 603 $5 million fixed-rate notes due Sept. 7, 2022 (ISIN: XS1876064038);

• Series 557 $4 million fixed-rate notes due Nov. 9, 2022 (ISIN: XS1714357149);

• Series 563 $8 million 3.118% fixed-rate notes due Feb. 2, 2023 (ISIN: XS1761963278);

• Series 564 $5 million fixed-rate notes due Feb. 6, 2023 (ISIN: XS1765850489);

• Series 565 $10 million fixed-rate notes due Feb. 6, 2023 (ISIN: XS1766467721);

• Series 566 $7 million 3.17% fixed-rate notes due Feb. 9, 2023 (ISIN: XS1768960863);

• Series 578 $5 million 3.52% fixed-rate notes due May 9, 2023 (ISIN: XS1819599082);

• Series 581 $20 million fixed-rate notes due May 30, 2023 (ISIN: XS1827615243);

• Series 593 $4 million fixed-rate notes due July 18, 2023 (ISIN: XS1856993313);

• Series 595 $10 million 3.571% fixed-rate notes due July 31, 2023 (ISIN: XS1860322335);

• Series 620 $10 million fixed-rate notes due Nov. 20, 2023 (ISIN: XS1912538508);

• Series 560 $5 million fixed-rate notes due Nov. 27, 2023 (ISIN: XS1721762323);

• Series 673 $50 million 1.904% fixed-rate notes due June 12, 2025 (ISIN: XS2186298811); and

• Series 648 $15 million 2.535% notes due Dec. 4, 2025 (ISIN: XS2088657650).

HCUK notes

The HCUK notes are as follows:

• Series 576 $50 million 0.2% notes due March 19, 2021 (ISIN: XS1815317034);

• Series 454 £30 million floating-rate notes due April 1, 2021 (ISIN: XS1048475286);

• Series 638 €30 million floating-rate notes due April 2021 (ISIN: XS1975630366);

• Series 639 €20 million floating-rate notes due April 8, 2021 (ISIN: XS1975974707);

• Series 637 €10 million floating-rate notes due April 10, 2021 (ISIN: XS1971584419);

• Series 573 RMB 80 million fixed-rate notes due April 16, 2021 (ISIN: XS1792207927);

• Series 496 $24 million floating-rate notes due April 26, 2021 (ISIN: XS1400223902);

• Series 497 $5 million fixed-rate notes due April 26, 2021 (ISIN: XS1400720873);

• Series 498 A$30 million fixed-rate notes due May 10, 2021 (ISIN: XS1402209149);

• Series 499 $5 million fixed-rate notes due May 11, 2021 (ISIN: XS1403600825);

• Series 670 ¥1 million notes due May 21, 2021 (ISIN: XS2170383322);

• Series 580 £120 million floating-rate notes due May 25, 2021 (ISIN: XS1826189000);

• Series 583 £10 million floating-rate notes due June 11, 2021 (ISIN: XS1834001346);

• Series 643 €200 million floating-rate notes due June 11, 2021 (ISIN: XS2064448603);

• Series 590 ¥1 billion fixed-rate notes due June 21, 2021 (ISIN: XS1839002349);

• Series 538 ¥15 billion fixed-rate notes due July 21, 2021 (ISIN: XS1649817548);

• Series 505 $26 million fixed-rate notes due Aug. 26, 2021 (ISIN: XS1480668257);

• Series 544 $7 million fixed-rate notes due Sept. 13, 2021 (ISIN: XS1681744386);

• Series 546 $20 million fixed-rate notes due Sept. 14, 2021 (ISIN: XS1681658115);

• Series 604 ¥500 million fixed-rate notes due Sept. 21, 2021 (ISIN: XS1881005893);

• Series 605 ¥500 million fixed-rate notes due Sept. 21, 2021 (ISIN: XS1881009374);

• Series 607 €20 million fixed-rate notes due Sept. 21, 2021 (ISIN: XS1881854522);

• Series 440 $5 million fixed-rate notes due Sept. 24, 2021 (ISIN: XS1112563140);

• Series 606 RMB 600 million fixed-rate notes due Sept. 27, 2021 (ISIN: XS1881014887);

• Series 608 C$6 million 2.88% notes due Sept. 27, 2021 (ISIN: XS1881896010);

• Series 609 ¥500 million fixed-rate notes due Oct. 5, 2021 (ISIN: XS1886477584);

• Series 465 £30 million floating-rate notes due Oct. 12, 2021 (ISIN: XS1117528932);

• Series 612 £100 million floating-rate notes due Oct. 26, 2021 (ISIN: XS1894612248);

• Series 644 CHF 5 million floating-rate notes due Nov. 12, 2021 (ISIN: XS2078922544);

• Series 614 ¥4.6 billion floating-rate notes due Nov. 15, 2021 (ISIN: XS1909073253);

• Series 615 ¥1 billion fixed-rate notes due Nov. 19, 2021 (ISIN: XS1909193580);

• Series 616 ¥1 billion fixed-rate notes due Nov. 19, 2021 (ISIN: XS1910115382);

• Series 617 ¥500 million 0.17% notes due Nov. 22, 2021 (ISIN: XS1910249827);

• Series 618 ¥1.5 billion 0.17% notes due Nov. 22, 2021 (ISIN: XS1910930467);

• Series 619 ¥500 million 0.18% fixed-rate notes due Nov. 29, 2021 (ISIN: XS1911674221);

• Series 623 ¥1.3 billion fixed-rate notes due Nov. 30, 2021 (ISIN: XS1920367809);

• Series 655 €25 million floating-rate notes due Jan. 19, 2022 (ISIN: XS2133612874);

• Series 629 ¥500 million 0.2% fixed-rate notes due Jan. 30, 2022 (ISIN: XS1937042981);

• Series 567 RMB 50 million fixed-rate notes due Feb. 22, 2022 (ISIN: XS1785150712);

• Series 636 £4.1 million 1.54% notes due Feb. 22, 2022 (ISIN: XS1964677261);

• Series 635 C$4.2 million 2.35% notes due Feb. 22, 2022 (ISIN: XS1964680133);

• Series 654 £100 million 1.288% notes due Feb. 25, 2022 (ISIN: XS2123086840);

• Series 640 £5 million floating-rate notes due April 12, 2022 (ISIN: XS1981791244);

• Series 524 HK$150 million fixed-rate notes due April 19, 2022 (ISIN: XS1598716493);

• Series 473 £30 million floating-rate notes due April 25, 2022 (ISIN: XS1206525831);

• Series 610 RMB 200 million fixed-rate notes due April 29, 2022 (ISIN: XS1892845600);

• Series 539 $10 million floating-rate notes due July 28, 2022 (ISIN: XS1653107646);

• Series 542 $25 million floating-rate notes due Sept. 1, 2022 (ISIN: XS1666258824);

• Series 541 HK$200 million fixed-rate notes due Sept. 16, 2022 (ISIN: XS1665379167);

• Series 458 $10 million fixed-rate notes due Sept. 22, 2022 (ISIN: XS1687477643);

• Series 552 €5 million fixed-rate notes due Oct. 11, 2022 (ISIN: XS1697023494);

• Series 621 $20 million floating-rate notes due Nov. 23, 2022 (ISIN: XS1912835201);

• Series 646 €350 million 0.125% senior notes due Nov. 29, 2022 (ISIN: XS2083299284);

• Series 656 HK$160 million fixed-rate notes due Feb. 20, 2023 (ISIN: XS2137299777);

• Series 571 A$18 million fixed-rate notes due April 13, 2023 (ISIN: XS1790985474);

• Series 657 ¥5.2 billion fixed-rate notes due April 24, 2023 (ISIN: XS2158696794);

• Series 658 ¥6.3 billion fixed-rate notes due April 24, 2023 (ISIN: XS2158696877);

• Series 577 €15 million fixed-rate notes due May 8, 2023 (ISIN: XS1814990104);

• Series 641 RMB 100 million fixed-rate notes due May 8, 2023 (ISIN: XS1989215998);

• Series 663 ¥13.2 billion fixed-rate notes due May 8, 2023 (ISIN: XS2167192983);

• Series 660 $10 million fixed-rate notes due May 11, 2023 (ISIN: XS2163336089);

• Series 664 ¥4.5 billion 0.7% fixed-rate notes due May 11, 2023 (ISIN: XS2167940282);

• Series 665 £5 million floating-rate notes due May 11, 2023 (ISIN: XS2168040157);

• Series 666 ¥1.3 billion 0.75% floating-rate notes due May 19, 2023 (ISIN: XS2168085764);

• Series 667 ¥4.8 billion 0.7% floating-rate notes due May 19, 2023 (ISIN: XS2170186410);

• Series 668 ¥2 billion fixed-rate notes due June 19, 2023 (ISIN: XS2170385020);

• Series 669 ¥1 billion fixed-rate notes due June 19, 2023 (ISIN: XS2170385376);

• Series 672 ¥5.1 billion fixed-rate notes due June 19, 2023 (ISIN: XS2176896780);

• Series 671 ¥6.8 billion 0.7% notes due June 21, 2023 (ISIN: XS2170383835);

• Series 613 €5 million fixed-rate notes due Oct. 19, 2023 (ISIN: XS1894843561);

• Series 659 ¥1.5 billion fixed-rate notes due April 30, 2025 (ISIN: XS2162003573);

• Series 661 $20 million floating-rate notes due April 2025 (ISIN: XS2166048657);

• Series 662 ¥2 billion fixed-rate notes due May 12, 2025 (ISIN: XS2166095492);

• Series 504 A$50 million fixed-rate notes due July 21, 2026 (ISIN: XS1460776252);

• Series 553 €10 million fixed-rate notes due Oct. 12, 2027 (ISIN: XS1702849099);

• Series 627 $130 million fixed-rate notes due Jan. 24, 2029 (ISIN: XS1936844320);

• Series 630 €10 million fixed-rate notes due Feb. 7, 2029 (ISIN: XS1951430054);

• Series 631 €20 million fixed-rate notes due February 2029 (ISIN: XS1952149059);

• Series 632 €10 million fixed-rate notes due Feb. 26, 2029 (ISIN: XS1953838049);

• Series 645 A$25 million fixed-rate notes due October 2029 (ISIN: XS2077741622); and

• Series 649 A$20 million fixed-rate notes due Nov. 28, 2029 (ISIN: XS2094570160).

MUFG Securities EMEA plc (+44 20 7577 4145, Liability.Management@mufgsecurities.com) and NatWest Markets plc (+44 20 7678 5222, liabilitymanagement@natwestmarkets.com) are the solicitation agents.

Morrow Sodali Ltd. (+44 20 8089 3287, +852 2158 8405, HitachiCapital@investor.morrowsodali.com) is the information and tabulation agent.

Tokyo-based Hitachi Capital provides consumer financing services.

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