By Cristal Cody
Tupelo, Miss., July 12 – Sumitomo Mitsui Financial Group Inc. priced $2 billion of senior notes (A1/A-/A) in three tranches on Thursday, according to a market source.
The company sold $500 million of five-year floating-rate notes at Libor plus 86 basis points.
Sumitomo Mitsui priced $750 million of 3.748% five-year fixed-rate notes at a spread of Treasuries plus 100 bps.
The company also priced $750 million of 3.944% 10-year notes with a Treasuries plus 110 bps spread.
SMBC Nikko Securities America Inc., Goldman Sachs & Co., BofA Merrill Lynch and Citigroup Global Markets Inc. were the bookrunners.
Proceeds will be used to extend senior unsecured loans to subsidiary SMBC Nikko, which will 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.
|
| Amount: | $2 billion
|
| Description: | Senior notes
|
| Bookrunners: | SMBC Nikko Securities America Inc., Goldman Sachs & Co., BofA Merrill Lynch and Citigroup Global Markets Inc.
|
| Trade date: | July 12
|
| Ratings: | Moody’s: A1
|
| S&P: A-
|
| Fitch: A
|
| Distribution: | SEC registered
|
|
|
| Five-year floaters
|
| Amount: | $500 million
|
| Maturity: | July 19, 2023
|
| Coupon: | Libor plus 86 bps
|
|
|
| Five-year notes
|
| Amount: | $750 million
|
| Maturity: | July 19, 2023
|
| Coupon: | 3.748%
|
| Spread: | Treasuries plus 100 bps
|
|
|
| 10-year notes
|
| Amount: | $750 million
|
| Maturity: | July 19, 2028
|
| Coupon: | 3.944%
|
| Spread: | Treasuries plus 110 bps
|
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