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Commentary & Deal Flow

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Sumitomo Mitsui Financial Group Inc (SMBC Group)

by Jp Albin

Mar 25, 2026 10:27 AM ET

LAUNCHED: SMBC / SMFG €2bn 4yr OpCo & 8NC7 HoldCo Senior; MS+70bp & MS+105bp

IGC European Market: Deal Flow - General

Issuer	Term	Call	Maturity	Size	Ranking	Type	IPT	Spread Set	ISIN
Sumitomo Mitsui Banking Corporation	4yr	-	02-Apr-30	€1bn	Senior Unsecured	Fixed	MS+105	MS+70	XS3320639282
Sumitomo Mitsui Financial Group	8NC7	7y	02-Apr-34	€1bn	Senior Unsecured	Fixed to Floating	MS+140	MS+105	XS3320639100

Launched: 4yr: €1bn @ MS+70bp - Orderbooks in excess of €4.7bn+ (excl. JLM) 8NC7: €1bn @ MS+105bp - Orderbooks in excess of €4.6bn+ (excl. JLM)
IPTs: 4yr:MS+105bp 8NC7:MS+140bp
- Issuer:
- - 4yr: Sumitomo Mitsui Banking Corporation (Ticker: SUMIBK)
  - 8NC7: Sumitomo Mitsui Financial Group, Inc. (Ticker: SUMIBK)
- Expected Issue Ratings:
- - 4yr: A1/A (Moody's/S&P)
  - 8NC7: A1/A- (Moody's/S&P)
- Security Description: Senior Unsecured Notes
- Format: Regulation S Only (Registered form)
- Size:
- - 4yr: €1bn
  - 8NC7: €1bn
- ISIN:
- - 4yr: XS3320639282
  - 8NC7: XS3320639100
- Tenor:
- - 4yr: 4yr FXD
  - 8NC7: 8NC7 FXD-to-FRN
- First Call Date:
- - 4yr: Not Applicable
  - 8NC7: 02-Apr-33
- Maturity:
- - 4yr: 02-Apr-30
  - 8NC7: 02-Apr-34
- Coupon:
- - 4yr: Fixed (Annually, Act/Act-ICMA)
  - 8NC7: Fixed (Annually, Act/Act-ICMA) until 02-Apr-33. If not redeemed, coupon refixes at a floating rate (Quarterly, Act/360)
- IPT:
- - 4yr: MS + 105bps
  - 8NC7: MS + 140bps
- Spread Set:
- - 4yr: MS+70bps
  - 8NC7: MS+105bps
- Settlement: 02-Apr-26
- Minimum Denoms: €100,000 x €1,000
- Use of Proceeds:
- - 4yr: Net proceeds of the Notes will be used for its general corporate purposes.
  - 8NC7: Net proceeds of the Notes will be used for providing debt or loan financing to SMFG’s subsidiaries or otherwise used for its general corporate purposes.
- Governing Law: English law
- Listing: Luxembourg Stock Exchange’s Euro MTF Market
- Docs: Issuer’s EMTN Programme
- Bookrunners: SMBC Nikko, Goldman Sachs International, Barclays, BNP Paribas, CACIB, Natixis and Jefferies
- B&D: SMBC Nikko
- Timing: Books open, Today’s business. Orderbooks to close at 12:30 UKT / 13:30 CET.
- LEI:
- - 4yr: 5U0XI89JRFVHWIBS4F54
  - 8NC7: 35380028MYWPB6AUO129
- Sales into Italy:
- - 4yr: No
  - 8NC7: Yes
- Prospectus: The Base Prospectus is available on https://www.bourse.lu/programme/Programme-SumitMitsuBking/1316