Japan’s Sumitomo Mitsui Banking sets talk for two-part reopening

By Aleesia Forni

Virginia Beach, Feb. 17– Sumitomo Mitsui Banking Corp. intends to sell an offering of notes (A1/A+/) in two tranches, according to a market source.

The offering will include an add-on to the company’s existing floating-rate notes due Jan. 16, 2018, which carry a coupon of Libor plus 58 basis points.

The notes are talked at Libor plus 55 bps to 58 bps.

The original $500 million of notes sold at par on Jan. 8.

There is also an add-on to its 2.45% notes due Jan. 16, 2020 talked in the 95 bps area over Treasuries.

The original $1 billion issue sold at 100 bps over Treasuries on Jan. 8.

Bookrunners are Barclays, SMBC Nikko, Barclays, Citigroup Global Markets Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC.

Sumitomo Mitsui is a Tokyo-based financial services company.

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