SMFG avoids premium as investors go for green

SMFG_PA_230x150
By David Freitas
22 May 2019

Sumitomo Mitsui Financial Group issued a green senior bond on Wednesday and paid no new issue premium after it received demand of twice its final size of €500m.

Bookrunners Bank of America, SMBC Nikko and Crédit Agricole started the trade at initial price thoughts for the five year senior green notes at 65bp over mid swaps. Demand  reached €1bn.

The pricing was tightened to a final 50bp over mid swaps and the size was set ...

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