By Devika Patel
Knoxville, Tenn., Oct. 11 – 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 $850 million of five-year floating-rate notes at par with a coupon of Libor plus 80 basis points.
It priced $1 billion of 3.936% five-year fixed-rate notes at par with a spread of Treasuries plus 92 bps.
The company also brought $650 million of 4.306% 10-year notes at par with a spread of 112 bps over Treasuries.
The final offering included the addition of a second fixed-rate tranche.
SMBC Nikko Securities America Inc., Goldman Sachs & Co. LLC, Barclays and Citigroup Global Markets Inc. are 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: | $2.5 billion
|
| Description: | Senior notes
|
| Bookrunners: | SMBC Nikko Securities America Inc., Goldman Sachs & Co. LLC, Barclays and Citigroup Global Markets Inc.
|
| Senior co-managers: | BofA Merrill Lynch, J.P. Morgan Securities LLC and Nomura Securities International, Inc.
|
| Co-managers: | Daiwa Capital Markets America Inc., HSBC Securities (USA) Inc., ING Financial Markets LLC, Standard Chartered Bank, TD Securities (USA) LLC and UniCredit Capital Markets LLC
|
| Call feature: | Non-callable
|
| Trade date: | Oct. 10
|
| Settlement date: | Oct. 16
|
| Ratings: | Moody’s: A1
|
| S&P: A-
|
| Distribution: | SEC registered
|
|
|
| Five-year floaters
|
| Amount: | $850 million
|
| Maturity: | Oct. 16, 2023
|
| Coupon: | Libor plus 80 bps
|
| Price: | Par
|
| Yield: | Libor plus 80 bps
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | Oct. 16, 2023
|
| Coupon: | 3.936%
|
| Price: | Par
|
| Yield: | 3.936%
|
| Spread: | Treasuries plus 92 bps
|
|
|
| 10-year notes
|
| Amount: | $650 million
|
| Maturity: | Oct. 16, 2028
|
| Coupon: | 4.306%
|
| Price: | Par
|
| Yield: | 4.306%
|
| Spread: | Treasuries plus 112 bps
|
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