Sumitomo Mitsui Financial Group’s $2.75 Billion Senior Notes Offering

Simpson Thacher recently represented the underwriters in the SEC-registered offering by Sumitomo Mitsui Financial Group, Inc. (“SMFG”) of $2.75 billion aggregate principal amount of its senior notes in three tranches due 2023 (floating rate), 2023 and 2028 (fixed rate).

SMFG intends the senior notes to contribute to its total loss-absorbing capacity (TLAC) when TLAC requirements are introduced in Japan.

SMBC Nikko Securities America, Inc., Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC acted as the representatives of the underwriters.

SMFG is one of Japan’s largest banking groups and the parent company of Sumitomo Mitsui Banking Corporation.

The Simpson Thacher team for the offering included Alan Cannon (Picture), David Snowden and Daniel Hulme (Capital Markets); Nancy Mehlman and Morgan Otway (Tax); and Jennie Getsin (Blue Sky).

 

Involved fees earner: Alan Cannon – Simpson Thacher & Bartlett; David Snowden – Simpson Thacher & Bartlett; Daniel Hulme – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Morgan Otway – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Citigroup Global Markets Ltd; Goldman, Sachs & Co.; JP Morgan Securities; Smbc Nikko Capital Markets Limited;