Simpson Thacher Represents the Underwriters in $2.25 Billion Senior Notes Registered Offering by Sumitomo Mitsui Financial Group
02.16.17
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Simpson Thacher recently represented the underwriters in the SEC-registered offering by Sumitomo Mitsui Financial Group, Inc. of $2.25 billion aggregate principal amount of its senior notes in three tranches due 2022 (floating rate), 2022 and 2027 (fixed rate). SMFG intends the senior notes to contribute to its total loss-absorbing capacity (TLAC) when TLAC requirements are introduced in Japan.
Goldman, Sachs & Co., SMBC Nikko Securities America, Inc., 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, David Snowden and Daniel Hulme (Capital Markets); Jonathan Cantor and Taylor Weinstein (Tax); and Jennie Getsin (Blue Sky).