By Cristal Cody
Tupelo, Miss., April 18 – Sumitomo Mitsui Banking Corp., New York Branch priced a $750 million add-on to its floating-rate bank notes (A1/A-/A) due Jan. 17, 2020 to yield Libor plus 40 basis points on Tuesday, according to a market source.
The company originally sold $750 million of the floating-rate notes on Jan. 9 at par to yield Libor plus 35 bps. The total outstanding now is $1.5 billion.
SMBC Nikko Securities America Inc. was the bookrunner.
The company is a U.S.-based banking and financial services branch of Tokyo-based Sumitomo Mitsui Financial Group Inc.
| Issuer: | Sumitomo Mitsui Banking Corp., New York Branch
|
| Amount: | $750 million reopening
|
| Description: | Bank notes
|
| Maturity: | Jan. 17, 2020
|
| Bookrunner: | SMBC Nikko Securities America Inc.
|
| Coupon: | Libor plus 35 bps
|
| Yield: | Libor plus 40 bps
|
| Trade date: | April 17
|
| Ratings: | Moody’s: A1
|
| S&P: A-
|
| Fitch: A
|
| Total outstanding: | $1.5 billion, including $750 million of notes priced Jan. 9, 2018 at par to yield Libor plus 35 bps
|
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