By Devika Patel
Knoxville, Tenn., Oct. 12 – Sumitomo Mitsui Financial Group Inc. priced $2.5 billion of senior notes (A1/A-) in three tranches on Wednesday, according to an FWP filed with the Securities and Exchange Commission.
The company sold $500 million of five-year floating-rate notes at par to yield Libor plus 74 basis points.
The issuer priced $1.25 billion of 2.778% five-year fixed-rate notes at par with a spread of Treasuries plus 82 bps.
The company also brought $750 million of 3.352% 10-year notes at par with a spread of 100 bps over Treasuries.
The final offering included the addition of a second fixed-rate tranche.
Goldman Sachs & Co., SMBC Nikko, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the bookrunners.
Proceeds will be used for general corporate purposes.
The banking and financial company is based in Tokyo.
| Issuer: | Sumitomo Mitsui Financial Group Inc.
|
| Amount: | $2.5 billion
|
| Description: | Senior notes
|
| Bookrunners: | Goldman Sachs & Co., SMBC Nikko, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC
|
| Senior co-managers: | Barclays, BofA Merrill Lynch, Nomura Securities International, Inc.
|
| Co-managers: | Daiwa Capital Markets America Inc., HSBC Securities (USA) Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Lloyds Securities Inc. and Wells Fargo Securities LLC
|
| Call feature: | Non-callable
|
| Trade date: | Oct. 11
|
| Settlement date: | Oct. 18
|
| Ratings: | Moody’s: A1
|
| S&P: A-
|
| Distribution: | SEC registered
|
|
|
| Five-year floaters
|
| Amount: | $500 million
|
| Maturity: | Oct. 18, 2022
|
| Coupon: | Libor plus 74 bps
|
| Price: | Par
|
| Yield: | Libor plus 74 bps
|
|
|
| Five-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | Oct. 18, 2022
|
| Coupon: | 2.778%
|
| Price: | Par
|
| Yield: | 2.778%
|
| Spread: | Treasuries plus 82 bps
|
|
|
| 10-year notes
|
| Amount: | $750 million
|
| Maturity: | Oct. 18, 2027
|
| Coupon: | 3.352%
|
| Price: | Par
|
| Yield: | 3.352%
|
| Spread: | Treasuries plus 100 bps
|
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