Simpson Thacher Represents Underwriters in $2.75 Billion Senior Notes Registered Offering by Sumitomo Mitsui Financial Group
Simpson Thacher recently represented the underwriters in the SEC-registered offering by Sumitomo Mitsui Financial Group, Inc. (“SMFG”) of $2.75 billion aggregate principal amount of its senior notes in three tranches due 2023 (floating rate), 2023 and 2028 (fixed rate). SMFG intends the senior notes to contribute to its total loss-absorbing capacity (TLAC) when TLAC requirements are introduced in Japan.