By Devika Patel
Knoxville, Tenn., Jan. 10 – Sumitomo Mitsui Financial Group Inc. offered further details about a $4.75 billion sale of dollar-denominated senior notes (A1/A-/A) that priced in five tranches on Tuesday, according to an FWP filed with the Securities and Exchange Commission.
Two of the five tranches were bank notes which will be issued by Sumitomo Mitsui Banking Corp. and are being sold under Section 3(a)(2), not off the shelf.
The company sold $750 million of two-year floating-rate notes at Libor plus 35 basis points. Further details on this tranche of bank notes were not disclosed.
Sumitomo Mitsui priced $1.25 billion of 2.514% two-year fixed-rate notes at a spread of Treasuries plus 55 bps. Further details on this tranche of bank notes were not disclosed.
The company sold $500 million of five-year floating-rate notes at Libor plus 74 bps. These notes priced at par.
Sumitomo Mitsui’s $1.5 billion tranche of 3.102% five-year fixed-rate notes were sold with a 78 bps spread over Treasuries. These notes priced at par to yield 3.102%.
The company also priced $750 million of 3.544% 10-year notes at a spread of 100 bps over Treasuries. These notes priced at par to yield 3.544%.
Goldman Sachs & Co., SMBC Nikko Securities America Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC were 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. and Sumitomo Mitsui Banking Corp.
|
| Amount: | $4.75 billion
|
| Description: | Senior notes, bank notes
|
| Trade date: | Jan. 9
|
| Settlement date: | Jan. 17
|
| Bookrunners: | Goldman Sachs & Co., SMBC Nikko Securities America Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC
|
| Senior co-managers: | Barclays, BofA Merrill Lynch and Nomura Securities International, Inc.
|
| Co-managers: | Daiwa Securities America Inc., HSBC Securities (USA) Inc., Natixis Securities Americas LLC, Société Générale, Standard Chartered Bank and UniCredit Capital Markets LLC
|
| Ratings: | Moody’s: A1
|
| S&P: A-
|
| Fitch: A
|
| Distribution: | Off shelf, Section 3(a)(2)
|
|
|
| Two-year floating-rate bank notes
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| Issuer: | Sumitomo Mitsui Banking Corp.
|
| Issue: | Bank notes
|
| Amount: | $750 million
|
| Maturity: | Jan. 17, 2020
|
| Coupon: | Libor plus 35 bps
|
| Distribution: | Section 3(a)(2)
|
|
|
| Two-year bank notes
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| Issuer: | Sumitomo Mitsui Banking Corp.
|
| Issue: | Bank notes
|
| Amount: | $1.25 billion
|
| Maturity: | Jan. 17, 2020
|
| Coupon: | 2.514%
|
| Spread: | Treasuries plus 55 bps
|
| Distribution: | Section 3(a)(2)
|
|
|
| Five-year floaters
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| Issuer: | Sumitomo Mitsui Financial Group Inc.
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 17, 2023
|
| Coupon: | Libor plus 74 bps
|
| Price: | Par
|
| Call: | Non-callable
|
| Distribution: | Off shelf
|
|
|
| Five-year notes
|
| Issuer: | Sumitomo Mitsui Financial Group Inc.
|
| Issue: | Senior notes
|
| Amount: | $1.5 billion
|
| Maturity: | Jan. 17, 2023
|
| Coupon: | 3.102%
|
| Price: | Par
|
| Yield: | 3.102%
|
| Spread: | Treasuries plus 78 bps
|
| Call: | Non-callable
|
| Distribution: | Off shelf
|
|
|
| 10-year notes
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| Issuer: | Sumitomo Mitsui Financial Group Inc.
|
| Issue: | Senior notes
|
| Amount: | $750 million
|
| Maturity: | Jan. 17, 2028
|
| Coupon: | 3.544%
|
| Price: | Par
|
| Yield: | 3.544%
|
| Spread: | Treasuries plus 100 bps
|
| Call: | Non-callable
|
| Distribution: | Off shelf
|
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