By Cristal Cody
Eureka Springs, Ark., Oct. 12 – Sumitomo Mitsui Trust Bank Ltd. priced $1 billion of three-year notes (A1/A/A-) in two tranches on Wednesday, according to a market source.
The company sold $500 million of three-year floating-rate notes at Libor plus 91 basis points.
Sumitomo Mitsui priced $500 million of 2.05% three-year fixed-rate notes at a spread of 105 bps over Treasuries.
Citigroup Global Markets Inc., Daiwa Capital Markets Europe Ltd., Goldman Sachs & Co. 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: | $1 billion
|
| Description: | Notes
|
| Bookrunners: | Citigroup Global Markets Inc., Daiwa Capital Markets Europe Ltd., Goldman Sachs & Co., J.P. Morgan Securities LLC
|
| Trade date: | Oct. 12
|
| Ratings: | Moody’s: A1
|
| S&P: A
|
| Fitch: A-
|
|
|
| Three-year floaters
|
| Amount: | $500 million
|
| Maturity: | Oct. 18, 2019
|
| Coupon: | Libor plus 91 bps
|
|
|
| Three-year notes
|
| Amount: | $500 million
|
| Maturity: | Oct. 18, 2019
|
| Coupon: | 2.05%
|
| Spread: | Treasuries plus 105 bps
|
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