Sumitomo Mitsui Banking talks benchmark four-tranche bond offering

By Aleesia Forni

Virginia Beach, July 14 – Sumitomo Mitsui Banking Corp. intends to sell an offering of notes (A1/A+/) in four tranches, according to a market source.

The offering will include three-year notes talked at the Treasuries plus 110 basis points area and a three-year floater talked at the Libor equivalent.

A tranche of five-year notes is talked in the low-120 bps area over Treasuries.

There is also a 10-year tranche talked in the area of Treasuries plus 145 bps.

Bookrunners are Goldman Sachs & Co. Barclays and SMBC Nikko.

Sumitomo Mitsui is a Tokyo-based financial services company.

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