Sumitomo Mitsui Launches Floating Rate Notes Due 2029

Sumitomo Mitsui (SMFG) has released an update.

Sumitomo Mitsui Financial Group has announced the issuance of Senior Floating Rate Notes due in 2029, which are unsecured and rank equally with the company’s other unsecured obligations. The notes will pay interest quarterly based on the Compounded Daily SOFR plus a margin, with provisions for payment adjustments if due dates fall on non-business days. Interest payments made to certain entities in Japan may be subject to Japanese withholding tax, unless exemptions apply.

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