Sumitomo returns to euros for second bite of holdco cherry
Sumitomo Mitsui Financial Group (SMFG) was looking to sell a five year bond from its holding company on Wednesday, remaining the only Japanese ‘mega bank’ to look to euros for its total loss-absorbing capacity (TLAC) requirements.
Sumitomo Mitsui Financial Group (SMFG) circulated initial price thoughts of mid-swaps plus 60bp-65bp for the €500m five year senior holdco bond, through joint lead managers Goldman Sachs, SMBC Nikko, Barclays and BNP Paribas.
Guidance was then revised to 55bp area and a final spread
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.