By Devika Patel
Knoxville, Tenn., July 7 – Sumitomo Mitsui Financial Group Inc. offered further details about a $4.25 billion offering of dollar-denominated senior notes (A1/A-/A) that priced in three tranches on Thursday, according to an FWP filed with the Securities and Exchange Commission.
The company sold $500 million of five-year floating-rate notes at Libor plus 78 basis points.
It priced $2 billion of 2.784% five-year fixed-rate notes at a spread of Treasuries plus 85 bps.
The company also brought $1.75 billion of 3.364% 10-year notes with a spread of 100 bps over Treasuries.
All of the notes were sold at par.
The final offering included the addition of a second fixed-rate tranche.
Goldman Sachs & Co., SMBC Nikko Securities America, Inc., BofA Merrill Lynch and Citigroup Global Markets Inc. were the bookrunners.
Proceeds will be used to extend senior unsecured loans to the bank, which will use the proceeds of the loans for general corporate purposes, according to a 424B5 filing with the Securities and Exchange Commission.
The banking and financial company is based in Tokyo.
| Issuer: | Sumitomo Mitsui Financial Group Inc.
|
| Amount: | $4.25 billion
|
| Description: | Senior notes
|
| Bookrunners: | Goldman Sachs & Co., SMBC Nikko Securities America, Inc., BofA Merrill Lynch and Citigroup Global Markets Inc.
|
| Co-managers: | Barclays, J.P. Morgan Securities LLC, Nomura Securities International, Inc., Daiwa Securities America Inc., HSBC Securities (USA) Inc., Credit Agricole Securities (USA) Inc., Credit Suisse Securities (USA) LLC, UBS Securities LLC and Wells Fargo Securities LLC
|
| Call feature: | Non-callable
|
| Trade date: | July 6
|
| Settlement date: | July 12
|
| Ratings: | Moody’s: A1
|
| S&P: A-
|
| Fitch: A
|
| Distribution: | SEC registered
|
|
|
| Five-year floaters
|
| Amount: | $500 million
|
| Maturity: | July 12, 2022
|
| Coupon: | Libor plus 78 bps
|
| Price: | Par
|
| Yield: | Libor plus 78 bps
|
|
|
| Five-year notes
|
| Amount: | $2 billion
|
| Maturity: | July 12, 2022
|
| Coupon: | 2.784%
|
| Price: | Par
|
| Yield: | 2.784%
|
| Spread: | Treasuries plus 85 bps
|
|
|
| Ten-year notes
|
| Amount: | $1.75 billion
|
| Maturity: | July 12, 2027
|
| Coupon: | 3.364%
|
| Price: | Par
|
| Yield: | 3.364%
|
| Spread: | Treasuries plus 100 bps
|
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