By Aleesia Forni
Virginia Beach, July 8 – Sumitomo Mitsui Banking Corp. priced $3 billion of notes (Aa3/A+/) in four tranches, according to a market source.
The offering included $500 million of three-year floating-rate notes priced to yield Libor plus 32 basis points.
A $1 billion tranche of 1.35% three-year notes priced with a spread of 45 bps over Treasuries.
There was also $1 billion of 2.25% five-year notes priced at Treasuries plus 60 bps.
Finally, a $500 million tranche of 3.4% notes due 2024 priced at Treasuries plus 85 bps.
All of the tranches priced tighter than price talk.
Bookrunners are SMBC Nikko, Barclays, BofA Merrill Lynch, Citigroup Global Markets Inc. and Goldman Sachs & Co.
Sumitomo Mitsui is a Tokyo-based financial services company.
| Issuer: | Sumitomo Mitsui Banking Corp.
|
| Issue: | Senior notes
|
| Amount: | $3 billion
|
| Bookrunners: | SMBC Nikko, Barclays, BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co.
|
| Trade date: | July 8
|
| Settlement date: | July 11
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: A+
|
|
|
| Three-year floaters
|
| Amount: | $500 million
|
| Maturity: | 2017
|
| Yield: | Libor plus 32 bps
|
| Price talk: | Libor equivalent to three-year notes
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | 2017
|
| Coupon: | 1.35%
|
| Spread: | Treasuries plus 45 bps
|
| Price talk: | Treasuries plus 55 bps to 60 bps area
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | 2019
|
| Coupon: | 2.25%
|
| Spread: | Treasuries plus 60 bps
|
| Price talk: | Treasuries plus 70 bps to 75 bps area
|
|
|
| 10-year notes
|
| Amount: | $500 million
|
| Maturity: | 2024
|
| Coupon: | 3.4%
|
| Spread: | Treasuries plus 85 bps
|
| Price talk: | Treasuries plus 100 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.
