By Cristal Cody
Chicago, Feb. 29 – Sumitomo Mitsui Trust Bank Ltd. priced $2.25 billion of notes in three parts on Wednesday, according to a market source.
The bank sold $1 billion of 5.2% three-year notes at Treasuries plus 80 basis points, 25 bps lower than talk in the 105 bps area.
The deal also includes $750 million of 5.2% five-year notes. Pricing arrived at Treasuries plus 95 bps, again 25 bps lower than talk in the 120 bps area.
The third tranche, the smallest, priced as $500 million of 5.35% 10-year notes. The pricing at Treasuries plus 110 bps was again a quarter turn lower than talk in the 135 bps area.
Citigroup Global Markets Inc., Daiwa Securities America Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC were the bookrunners.
The banking and financial company is based in Tokyo.
| Issuer: | Sumitomo Mitsui Trust Bank Ltd.
|
| Amount: | $2.25 billion
|
| Issue: | Notes
|
| Bookrunners: | Citigroup Global Markets Inc., Daiwa Securities America Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC
|
| Trade date: | Feb. 28
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | March 7, 2027
|
| Coupon: | 5.2%
|
| Spread: | Treasuries plus 80 bps
|
| Price talk: | Treasuries plus 105 bps area
|
|
|
| Five-year notes
|
| Amount: | $750 million
|
| Maturity: | March 7, 2029
|
| Coupon: | 5.2%
|
| Spread: | Treasuries plus 95 bps
|
| Price talk: | Treasuries plus 120 bps area
|
|
|
| 10-year notes
|
| Amount: | $500 million
|
| Maturity: | March 7, 2034
|
| Coupon: | 5.35%
|
| Spread: | Treasuries plus 110 bps
|
| Price talk: | Treasuries plus 135 bps area
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
