By Devika Patel
Knoxville, Tenn., Oct. 12 – Sumitomo Mitsui Financial Group Inc. gave further details about a $4.5 billion offering of senior notes (A1/A-/A) in a 424B2 filed Wednesday with the Securities and Exchange Commission.
The deal, priced Tuesday, has five parts.
Three tranches came at par and were offered by Sumitomo Mitsui Financial Group in a sale registered with the Securities and Exchange Commission.
A further two tranches were bank notes offered under Section 3(a)(2) by Sumitomo Mitsui Banking Corp.
Sumitomo Mitsui Banking sold $500 million of two-year floating-rate notes at Libor plus 67 basis points.
It also priced a $500 million tranche of 1.762% two-year notes at a spread of 90 bps over Treasuries.
Sumitomo Mitsui Financial Group sold $500 million of five-year floating-rate notes at Libor plus 114 bps.
The company priced $1.5 billion of 2.442% five-year notes at a spread of 115 bps over Treasuries.
Sumitomo Mitsui Financial Group also sold $1.5 billion of 3.01% 10-year notes at Treasuries plus 125 bps.
BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co. and SMBC Nikko Securities America, Inc. were the bookrunners. Goldman Sachs was the stabilization manager.
The notes are non-callable.
Proceeds will be used for general corporate purposes, according to a 424B5 filed with the Securities and Exchange Commission.
The banking and financial company is based in Tokyo.
| Issuer: | Sumitomo Mitsui Financial Group Inc.
|
| Amount: | $4.5 billion
|
| Description: | Senior notes
|
| Bookrunners: | Goldman Sachs & Co. (stabilization manager), BofA Merrill Lynch, Citigroup Global Markets Inc., SMBC Nikko Securities America, Inc.
|
| Co-managers: | Daiwa Capital Markets, HSBC Securities (USA) Inc., Credit Agricole CIB, Natixis and Wells Fargo Securities LLC
|
| Call feature: | None
|
| Trade date: | Oct. 11
|
| Settlement: | Oct. 19
|
| Ratings: | Moody’s: A1
|
| S&P: A-
|
| Fitch: A
|
|
|
| Two-year floaters
|
| Issuer: | Sumitomo Mitsui Banking Corp.
|
| Amount: | $500 million
|
| Maturity: | Oct. 19, 2018
|
| Coupon: | Libor plus 67 bps
|
| Distribution: | Section 3(a)(2)
|
|
|
| Two-year fixed-rate notes
|
| Issuer: | Sumitomo Mitsui Banking Corp.
|
| Amount: | $500 million
|
| Maturity: | Oct. 19, 2018
|
| Coupon: | 1.762%
|
| Spread: | Treasuries plus 90 bps
|
| Distribution: | Section 3(a)(2)
|
|
|
| Five-year floaters
|
| Issuer: | Sumitomo Mitsui Financial Group Inc.
|
| Amount: | $500 million
|
| Maturity: | Oct. 19, 2021
|
| Coupon: | Libor plus 114 bps
|
| Price: | Par
|
| Yield: | Libor plus 114 bps
|
| Distribution: | SEC registered
|
|
|
| Five-year fixed-rate notes
|
| Issuer: | Sumitomo Mitsui Financial Group Inc.
|
| Amount: | $1.5 billion
|
| Maturity: | Oct. 19, 2021
|
| Coupon: | 2.442%
|
| Price: | Par
|
| Yield: | 2.442%
|
| Spread: | Treasuries plus 115 bps
|
| Distribution: | SEC registered
|
|
|
| Ten-year notes
|
| Issuer: | Sumitomo Mitsui Financial Group Inc.
|
| Amount: | $1.5 billion
|
| Maturity: | Oct. 19, 2026
|
| Coupon: | 3.01%
|
| Price: | Par
|
| Yield: | 3.01%
|
| Spread: | Treasuries plus 125 bps
|
| Distribution: | SEC registered
|
|
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