Simpson Thacher Represents the Initial Purchasers in $1.5 Billion Senior Bonds Offering by Sumitomo Mitsui Banking Corporation
01.18.12
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Simpson Thacher’s Tokyo office recently represented the initial purchasers, led by Goldman Sachs International, Citigroup Global Markets Inc., Barclays Bank PLC and J.P. Morgan Securities LLC in an offering of $500 million 1.90% Senior Bonds due 2015, $500 million 2.65% Senior Bonds due 2017 and $500 million 3.95% Senior Bonds due 2022 of Sumitomo Mitsui Banking Corporation (“SMBC”). The offering was conducted pursuant to Rule 144A and Regulation S. The bonds are listed on the Singapore Stock Exchange.
SMBC, the major operating subsidiary of Sumitomo Mitsui Financial Group, is one of the world’s largest commercial banks, with ¥128 trillion in consolidated total assets as of September 30, 2011.
The Simpson Thacher team that worked on the transaction included Alan Cannon, David Snowden and Kate Renaud in Tokyo and Andrew Pagliughi (Blue Sky) and Adam Wells (Tax) in New York.