1 October, 2020
Davis Polk advised Sumitomo Mitsui Financial Group, Inc. on its $850 million SEC-registered takedown offering of 2.142% subordinated notes due 2030. The subordinated notes are expected to qualify as Tier 2 capital for SMFG and are structured to count as total loss-absorbing capacity under the Japanese TLAC regulations.
The Davis Polk team included partner Jon Gray, counsel Christopher Kodama and associate Alexander Coley. Counsel Alon Gurfinkel and associate Summer Xia provided tax advice. Members of the Davis Polk team are based in the Tokyo and London offices.
