SMBC launches rare euro 10 year
Sumitomo Mitsui Banking Corp opened books on its first euro senior unsecured benchmark for nearly three years on Friday morning, offering investors a rare chance for exposure to a Japanese financial credit in the single currency.
Lead managers Citi, Deutsche Bank, Goldman Sachs and SMBC Nikko opened books at initial price thoughts of mid-swaps plus 100bp area and quickly grew books above €500m.
The Japanese bank last printed a euro deal back in October 2010 — a €750m 10 year priced at 130bp over
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