By Lisa Kerner
Charlotte, N.C., July 8 – Sumitomo Mitsui Financial Group, Inc. priced a three-part offering of senior notes (expected A1/A-) totaling $4.5 billion on Thursday, according to an FWP filed with the Securities and Exchange Commission.
The offering includes fixed- and floating-rate notes due July 2021, along with a fixed-rate tranche of notes due July 2026.
Sumitomo sold $500 million of floating rate notes due 2021 at Libor plus 111 bps.
The company priced $1.75 billion of 2.058% five-year notes with a spread of 110 bps over Treasuries.
Also, Sumitomo priced $2.25 billion of 2.632% 10-year notes with a spread of 125 bps over Treasures.
Goldman Sachs & Co., SMBC Nikko Securities America, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Barclays, BofA Merrill Lynch, HSBC Securities (USA) Inc., and Nomura Securities International, Inc. are the bookrunners.
Proceeds will be used to extend senior unsecured loans to Sumitomo Mitsui Banking Corp. The bank intends to use the proceeds of the loans for general corporate purposes.
The banking and financial company is based in Tokyo.
| Issuer: | Sumitomo Mitsui Financial Group, Inc.
|
| Issue: | Fixed- and floating-rate senior notes
|
| Amount: | $4.5 billion
|
| Bookrunners: | Goldman Sachs & Co., SMBC Nikko Securities America, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Barclays, BofA Merrill Lynch HSBC Securities (USA) Inc., Nomura Securities International, Inc.
|
| Co-managers: | Daiwa Capital Markets America Inc., Credit Agricole Securities (USA) Inc., Societe Generale, Wells Fargo Securities LLC
|
| Pricing date: | July 7
|
| Settlement date: | July 14
|
| Expected ratings: | Moody’s: A1
|
| S&P: A-
|
| Distribution: | SEC registered
|
|
|
| Floating-rate notes
|
| Amount: | $500 million
|
| Maturity: | July 14, 2021
|
| Coupon: | Libor plus 111 bps
|
|
|
| Five-year notes
|
| Amount: | $1.75 billion
|
| Maturity: | July 14, 2021
|
| Coupon: | 2.058%
|
| Spread: | Treasuries plus 110 bps
|
|
|
| 10-year notes
|
| Amount: | $2.25 billion
|
| Maturity: | July 14, 2026
|
| Coupon: | 2.632%
|
| Spread: | Treasuries plus 125 bps
|
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