Davis Polk advised Sumitomo Mitsui Financial Group, Inc. on its SEC-registered takedown offering of Australian dollar-denominated senior TLAC notes, which consisted of A$300 million aggregate principal amount of 3.604% senior notes due 2023 and A$450 million aggregate principal amount of floating-rate senior notes due 2023. The notes are structured to count as total loss-absorbing capacity (“TLAC”) when TLAC regulations are implemented in Japan.

International law firm Simmons & Simmons has advised Wiener GZ Immobilien GmbH comprehensively in its prospectus service.
The prospectus has been approved by the Commission de Surveillance du Secteur Financier as the competent Luxembourg authority. The Wiener GZ Immobilien GmbH intends to issue a bond with a volume of up to EUR 10 million. There are no plans for a stock exchange listing of the bond.

Norton Rose Fulbright has advised a consortium of banks (Bank Polska Kasa Opieki S.A., Bank Handlowy w Warszawie S.A., mBank S.A. and ING Bank Slaski S.A.) on a complex transaction involving the grant of EUR 160m and PLN 380m in financing to Polish, Romanian and German companies from Cersanit Group and a PLN 100m corporate bond issue placed on the Polish market. The firm's role entailed the drafting of all finance documents for the banks.

CMS has advised PKO BP on the new issue of subordinated bonds for the amount of PLN 1.7 billion.

The funds will be allocated to the Bank's increase of Tier II capital. The Polish Financial Supervision Authority has already granted its consent to the above operation. 

Davis Polk advised the joint lead managers in connection with Mizuho Financial Group, Inc.’s SEC-registered takedown offering of senior notes, which consisted of $1.0 billion aggregate principal amount of 2.601% senior notes due 2022, $1.1 billion aggregate principal amount of 3.170% senior notes due 2027 and $1.15 billion aggregate principal amount of floating-rate senior notes due 2022. The notes are structured to count as total loss-absorbing capacity (“TLAC”) when TLAC regulations are implemented in Japan.

Simpson Thacher recently represented the underwriters in the SEC-registered offering by Sumitomo Mitsui Financial Group, Inc. (“SMFG”) of $4.25 billion aggregate principal amount of its senior notes in three tranches due 2022 (floating rate), 2022 and 2027 (fixed rate). SMFG intends the senior notes to contribute to its total loss-absorbing capacity (TLAC) when TLAC requirements are introduced in Japan.

Simpson Thacher recently represented the underwriters in the SEC-registered offering by Sumitomo Mitsui Financial Group, Inc. (“SMFG”) of A$750 million aggregate principal amount of its senior notes in two tranches due 2023 (floating rate and fixed rate). SMFG intends the senior notes to contribute to its total loss-absorbing capacity (TLAC) when TLAC requirements are introduced in Japan.

Simpson Thacher recently represented the initial purchasers in the offering by Takeda Pharmaceuticals Company Limited of $500 million aggregate principal amount of its senior fixed rate notes due 2022. The notes were sold to international investors outside of Japan in reliance on Rule 144A and Regulation S.

Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Nomura Securities International, Inc. acted as the initial purchasers for the offering.

Shearman & Sterling advised Anglo American on its $1.3 billion senior notes offering consisting of $650 million 3.625% senior notes due 2024 and $650 million 4% senior notes due 2027. The notes were issued by Anglo American Capital plc and guaranteed by Anglo American plc.

International law firm Trowers & Hamlins has advised The Housing Finance Corporation Limited (THFC) on its recent bond issue.

The firm acted for THFC on all aspects of the transaction, which involved issue of £168 million bonds (half of which were retained bonds) with some of the funds being on-lent to two registered providers with the remainder to be on-lent to other Registered Providers at a future date.

This was the first new bond issue for THFC since 2013.

Partner Naomi Roper commented: