Davis Polk & Wardwell LLP advised Sumitomo Mitsui Financial Group, Inc. in connection with cash tender offers conducted by its subsidiaries for two series of perpetual subordinated bonds and two series of perpetual preferred securities issued by those subsidiaries. The subsidiaries offered to purchase securities with an aggregate principal and liquidation preference of approximately $3.8 billion, in U.S. dollar terms, and most of the securities were tendered and purchased.

Sumitomo Mitsui Financial Group is one of the largest financial institutions in the world in terms of assets.

The Davis Polk corporate team included partner Theodore A. Paradise, counsel Michael T. Dunn, associates Stephen Lindholm, Lindsey Finch and Miles E. Hawks (not yet admitted), all of the Tokyo office, partner Peter R. Douglas of the New York office and associate Jesse Gillespie of the Menlo Park office. Partner John D. Paton and associates Kent Heggerud and Alon Gurfinkel, all of the London office, provided tax advice.