SMFG Prices $500M Perpetual Subordinated Notes at 6.950%
SMFG sits 71% above its 52-week low of $15.18.
Summary
SMFG priced $500 million of perpetual subordinated notes at 6.950%, finalizing terms of an offering first disclosed in a 424B5 filed September 1, 2026.
Key Events · Financing and Capital Events · SMFG
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Perpetual Notes Priced at Par
SMFG priced $500 million of 6.950% perpetual subordinated notes at 100.000% of principal amount, with settlement expected September 10, 2026.
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Capital Treatment
Proceeds will fund a perpetual subordinated loan to SMBC intended to qualify as Additional Tier 1 capital and internal TLAC, supporting regulatory capital ratios.
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Pricing Terms
Reoffer yield of 6.952% represents a spread of T+214.3 bps over the interpolated 4.809% U.S. Treasury yield; first coupon reset date is December 5, 2036.
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Ratings and Underwriters
Expected ratings are Baa3 (Moody's) / BB+ (S&P). Joint bookrunners include SMBC Nikko, Goldman Sachs, BofA Securities, J.P. Morgan, and Jefferies.
Analysis · SMFG · Finance
Final terms are now set on a $500 million perpetual subordinated notes offering, priced at par with a 6.950% coupon and a reoffer yield of 6.952%. The notes qualify as Additional Tier 1 capital, strengthening SMFG's regulatory capital position. This pricing follows the preliminary prospectus supplement filed the prior day and comes amid a broader capital-raising program that included a $3.25 billion senior notes offering in June 2026.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 30.1% of the 2014 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.11%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SMFG was trading at $26.03 on NYSE in the Finance sector, with a market capitalization of approximately $165.5B. The 52-week trading range was $15.18 to $26.67. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.