Simpson Thacher recently represented the underwriters in the SEC-registered offering by Sumitomo Mitsui Financial Group, Inc. (“SMFG”) of $2 billion aggregate principal amount of four tranches of Senior Notes, consisting of one tranche of SOFR-linked floating rate notes due 2027, one tranche of fixed rate green bond notes due 2029 and two tranches of fixed rate notes due 2027 and 2042. The issuance of Senior Notes will help SMFG to comply with Japan’s total loss-absorbing capacity (“TLAC”) requirements.
SMBC Nikko Securities America, Inc., Goldman Sachs & Co. LLC, BofA Securities, Inc. and Citigroup Global Markets Inc. acted as the representatives of the underwriters for the floating rate notes due 2027 and the fixed rate notes due 2027 and 2042. SMBC Nikko Securities America, Inc., BofA Securities, Inc., Barclays Capital Inc., Crédit Agricole Corporate and Investment Bank and ING Financial Markets LLC acted as the representatives of the underwriters for the fixed rate green bond notes due 2029.
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 Xochitl Romo (Capital Markets); Jon Cantor and Edward Grais (Tax); and Jennie Getsin (Blue Sky).