We advised SMBC on the program establishment and offering

Davis Polk advised Sumitomo Mitsui Banking Corporation (SMBC) in connection with its establishment of a $50 billion Rule 144A/Regulation S, Section 3(a)(2) global medium-term notes program, with 3(a)(2) notes guaranteed by SMBC’s New York branch.

Following the establishment of the global medium-term notes program, Davis Polk advised SMBC as issuer in connection with its $2.5 billion senior debt takedown offering in reliance on Section 3(a)(2) of the Securities Act. The offering consisted of $1 billion aggregate principal amount of 4.936% senior fixed-rate notes due 2029, $500 million aggregate principal amount of senior floating-rate notes due 2029 and $1 billion aggregate principal amount of senior floating-rate notes due 2031, each guaranteed by SMBC’s New York branch. The notes are listed on the Luxembourg Stock Exchange’s Euro MTF Market.

SMBC is one of the world’s largest commercial banks by assets.

The Davis Polk corporate team included partner Christopher Kodama and associates Alexander Coley and Akiko Okamoto. Counsel Daniel E. Newman and associate Mary Jane Dumankaya provided financial institutions advice. Counsel Alon Gurfinkel and associate Ya Sheng Lin provided tax advice. Associate Alex Brod provided 1940 Act advice. Counsel Chaoyuan (Charles) Shi provided ERISA advice. Members of the Davis Polk team are based in the Tokyo, New York and London offices.

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