SMBC returns to dollar bond market with tier two issue

23 Feb 2012

Sumitomo Mitsui Banking Corp sold $1.5bn of subordinated notes on Wednesday, its second capital raising this year in the dollar debt market after its issue of regular senior bonds last month.

Barclays Capital, Citi, Goldman Sachs, SMBC Nikko and UBS pitched the deal at a price guidance of around 300bp over Treasuries, which was later lowered to 285bp over, around 109bp over where its existing 10 year senior bonds were trading in the secondary market.

The March 2022 lower tier ...

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