By Aleesia Forni
New York, March 2 – Sumitomo Mitsui Financial Group Inc. was in the market with a $4 billion three-part offering of senior notes (A1/A-) on Wednesday, according to an informed source.
The issuance included $1.75 billion of 2.934% five-year notes sold at par to yield Treasuries plus 160 basis points.
The notes sold at the tight side of the Treasuries plus 165 bps area guidance following talk in the range of Treasuries plus 180 bps to 185 bps.
A $750 million five-year floater sold at par to yield Libor plus 168 bps after being talked at the Libor equivalent to the fixed-rate tranche.
And $1.5 billion of 3.784% 10-year bonds sold at par, or Treasuries plus 195 bps.
Guidance was in the Treasuries plus 200 bps area, and the tranche was initially talked in the range of Treasuries plus 215 bps to 220 bps.
Goldman Sachs & Co., SMBC Nikko, Citigroup Global Markets Inc., Barclays, BofA Merrill Lynch and J.P. Morgan Securities LLC are the bookrunners.
The banking and financial services company is based in Tokyo.
| Issuer: | Sumitomo Mitsui Financial Group Inc.
|
| Issue: | Senior notes
|
| Amount: | $4 billion
|
| Bookrunners: | Goldman Sachs & Co., SMBC Nikko, Citigroup Global Markets Inc., Barclays, BofA Merrill Lynch, J.P. Morgan Securities LLC
|
| Trade date: | March 2
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: A-
|
| Distribution: | SEC registered
|
|
|
| Five-year notes
|
| Amount: | $1.75 billion
|
| Maturity: | March 9, 2021
|
| Coupon: | 2.934%
|
| Price: | Par
|
| Yield: | 2.934%
|
| Spread: | Treasuries plus 160 bps
|
| Price guidance: | Treasuries plus 165 bps area, tightened from Treasuries plus 180 bps to 185 bps
|
|
|
| Five-year floaters
|
| Amount: | $750 million
|
| Maturity: | March 9, 2021
|
| Coupon: | Libor plus 168 bps
|
| Price: | Par
|
| Yield: | Libor plus 168 bps
|
| Price guidance: | Libor equivalent to five-year fixed-rate notes
|
|
|
| 10-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | March 9, 2026
|
| Coupon: | 3.784%
|
| Price: | Par
|
| Yield: | 3.784%
|
| Spread: | Treasuries plus 195 bps
|
| Price guidance: | Treasuries plus 200 bps area, tightened from Treasuries plus 215 bps 220 bps
|
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