By Cristal Cody
Chicago, Jan. 6 – Sumitomo Mitsui Financial Group, Inc. carved out a part of its $2 billion bond deal on Wednesday for a $500 million tranche of green notes (A1/A-), according to an FWP filed with the Securities and Exchange Commission and additional details from a market source.
The notes priced with a 2.472% coupon and a Jan. 14, 2029 maturity date. Priced at par, the spread was Treasuries plus 85 bps, 25 bps low to talk in the 110 bps area.
The notes are non-callable.
SMBC Nikko Securities America, BofA Securities, Barclays, Credit Agricole CIB and ING Financial Markets LLC are the bookrunners for the green fixed-rate notes due 2029. SMBC, BofA and Credit Agricole are also joint green structuring agents for the 2029 notes.
Proceeds from the green bonds will be used eligible green projects.
The bank holding company is based in Tokyo.
| Issuer: | Sumitomo Mitsui Financial Group, Inc.
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| Amount: | $500 million
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| Maturity: | Jan. 14, 2029
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| Issue: | Senior green notes
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| Bookrunners: | SMBC Nikko Securities America, BofA Securities, Barclays, Credit Agricole CIB and ING Financial Markets LLC
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| Structuring agents: | SMBC, BofA and Credit Agricole
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| Trustee: | Bank of New York Mellon
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| Coupon: | 2.472%
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| Price: | Par
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| Yield: | 2.472%
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| Spread: | Treasuries plus 85 bps
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| Call features: | Non-callable
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| Trade date: | Jan. 5
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| Settlement date: | Jan. 14
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| Ratings: | Moody’s: A1
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| S&P: A-
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| Price talk: | Treasuries plus 110 bps area
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| Cusip: | 86562MCN8
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| Distribution: | SEC registered
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