Simpson Thacher Represents Underwriters in $500 Million Perpetual Subordinated Notes Offering by Sumitomo Mitsui Financial Group
Simpson Thacher recently represented the underwriters in the SEC-registered offering by Sumitomo Mitsui Financial Group, Inc. (“SMFG”) of $500 million aggregate principal amount of 6.950% Perpetual Subordinated Notes. The Perpetual Subordinated Notes are intended to qualify as Additional Tier 1 Capital of SMFG and will help SMFG comply with Japan’s total loss-absorbing capacity requirements. SMBC Nikko Securities America, Inc., Goldman Sachs & Co. LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Jefferies 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 David Snowden, Xochitl Romo and Yoshimi Koshiishi (Capital Markets); Jon Cantor (Tax); and Jennie Getsin (Blue Sky).