By Andrea Heisinger
New York, July 10 - Sumitomo Mitsui Banking Corp. sold $3 billion of notes (Aa3//A+) in three tranches on Tuesday, an informed source said.
The $1 billion of 1.35% three-year bonds sold at 99.982 to yield 1.356% with a spread of Treasuries plus 100 basis points. The tranche was priced tighter than talk in the 115 bps area.
A $1.25 billion tranche of 1.8% five-year notes priced at 99.905 to yield 1.82% with a spread of 120 bps over Treasuries. The notes were sold tighter than guidance in the 140 bps area.
There was also $750 million of 3.2% 10-year notes priced at par to yield 3.2%, or Treasuries plus 170 bps. The paper was also priced lower than guidance in the 190 bps area.
All of the tranches are non-callable.
Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc. and Goldman Sachs & Co. were the bookrunners.
Sumitomo Mitsui Banking was last in the U.S. bond market with a $1.5 billion sale of 4.85% 10-year notes priced at 285 bps over Treasuries on Feb. 22.
The subsidiary of Sumitomo Mitsui Financial Group is based in Tokyo.
| Issuer: | Sumitomo Mitsui Banking Corp.
|
| Issue: | Notes
|
| Amount: | $3 billion
|
| Bookrunners: | Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs & Co.
|
| Trade date: | July 10
|
| Settlement date: | July 18
|
| Ratings: | Moody's: Aa3
|
| Fitch: A+
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | July 18, 2015
|
| Coupon: | 1.35%
|
| Price: | 99.982
|
| Yield: | 1.356%
|
| Spread: | Treasuries plus 100 bps
|
| Call: | Non-callable
|
| Price talk: | 115 bps area
|
|
|
| Five-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | July 18, 2017
|
| Coupon: | 1.8%
|
| Price: | 99.905
|
| Yield: | 1.82%
|
| Spread: | Treasuries plus 120 bps
|
| Call: | Non-callable
|
| Price talk: | 140 bps area
|
|
|
| 10-year notes
|
| Amount: | $750 million
|
| Maturity: | July 18, 2022
|
| Coupon: | 3.2%
|
| Price: | Par
|
| Yield: | 3.2%
|
| Spread: | Treasuries plus 170 bps
|
| Call: | Non-callable
|
| Price talk: | 190 bps area
|
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