Davis Polk advised Sumitomo Mitsui Banking Corporation in connection with its $3 billion senior debt offering in reliance on the Section 3(a)(2) exemption of the Securities Act. The offering consisted of $1 billion of 1.35% senior bonds due 2015, $1.25 billion of 1.8% senior bonds due 2017 and $750 million of 3.2% senior bonds due 2022, each guaranteed by Sumitomo Mitsui Banking Corporation’s New York branch. The joint lead managers for the offering were Goldman, Sachs & Co., Citigroup Global Markets Inc., Barclays Bank PLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated. SMBC Nikko Securities served as international offering coordinator.
Sumitomo Mitsui Banking Corporation is one of the largest banks in the world by assets.
The Davis Polk corporate team included partner Theodore A. Paradise, counsel Michael T. Dunn, associates Daniel E. Newman and Yuko Masunaga. Partner Arthur S. Long and associate E. Ashley Harris provided advice relating to the Section 3(a)(2) exemption. Partner John D. Paton and associate Sarah Joy provided tax advice. Counsel Erin K. Cho and associate Jennifer Freiman provided employee benefits advice. Counsel Catherine L. Martin and associate Jake H. Wang provided ’40 Act advice. David James Pisano was the legal assistant on the transaction. Members of the Davis Polk team are based in the Tokyo, London, New York and Washington DC offices.
