By Aleesia Forni
Virginia Beach, Jan. 8 - Sumitomo Mitsui Banking Corp. priced a $3 billion sale of senior notes (Aa3/A+/) in four tranches, according to a market source.
The company sold $750 million of three-year floating-rate notes at par to yield Libor plus 43 basis points.
There was also a $750 million 1.3% three-year note at priced Treasuries plus 55 bps, or 99.988 to yield 1.304%.
A $1 billion tranche of 2.45% notes due 2019 was priced at 80 bps over Treasuries.
The notes sold at 99.874 to yield 2.477%.
Finally, SMBC priced $500 million of 3.95% 10-year notes at 99.681 to yield 3.989%, or Treasuries plus 105 bps.
The three fixed-rate tranches sold tight of talk.
Bookrunners are Barclays, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and SMBC Nikko Securities Inc.
Sumitomo Mitsui Banking is a Tokyo-based financial services company.
| Issuer: | Sumitomo Mitsui Banking Corp.
|
| Issue: | Notes
|
| Amount: | $3 billion
|
| Joint bookrunners: | Barclays, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, SMBC Nikko Securities Inc.
|
| Trade date: | Jan. 7
|
| Settlement date: | Jan. 10
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
|
|
| Floaters due 2017
|
| Amount: | $750 million
|
| Maturity: | Jan. 10, 2017
|
| Coupon: | Libor plus 43 bps
|
| Price: | Par
|
| Yield: | Libor plus 43 bps
|
|
|
| Notes due 2017
|
| Amount: | $750 million
|
| Maturity: | Jan. 10, 2017
|
| Coupon: | 1.3%
|
| Price: | 99.988
|
| Yield: | 1.304%
|
| Spread: | Treasuries plus 55 bps
|
| Price talk: | Treasuries plus 55 to 60 bps, tightened from Treasuries plus 70 bps area
|
|
|
| Notes due 2019
|
| Amount: | $1 billion
|
| Maturity: | Jan. 10, 2019
|
| Coupon: | 2.45%
|
| Price: | 99.874
|
| Yield: | 2.477%
|
| Spread: | Treasuries plus 80 bps
|
| Price talk: | Treasuries plus 80 bps to 85 bps, tightened from Treasuries plus 95 bps area
|
|
|
| Notes due 2024
|
| Amount: | $500 million
|
| Maturity: | Jan. 10, 2024
|
| Coupon: | 3.95%
|
| Price: | 99.681
|
| Yield: | 3.989%
|
| Spread: | Treasuries plus 105 bps
|
| Price talk: | Treasuries plus 105 bps to 110 bps, tightened from Treasuries plus 120 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
