Japan’s Sumitomo Mitsui Banking Corp. has appointed Davis Polk & Wardwell and Nagashima Ohno & Tsunematsu as U.S. and Japanese counsel for a subordinated bond offering, raising $1.5 billion. The 10-year U.S. dollar-denominated bonds, which the bank is offering on the Singapore Exchange, have a 4.85-percent coupon. Tokyo-based partner Theodore Paradise is leading Davis Polk’s team on the deal. Simpson Thacher & Bartlett Tokyo partner Alan Cannon is acting for the underwriters–Barclays Bank PLC; UBS A.G.; Citigroup Global Markets, Inc.; and Goldman Sachs International.
Paul, Weiss, Rifkind, Wharton & Garrison is advising The Bank of Tokyo-Mitsubishi UFJ Ltd. on a $1 billion issue of senior notes on the Singapore Exchange. The notes carry an interest rate of 2.35 percent and will mature in 2017. Paul Weiss Tokyo partner Tong Yu is leading the firm’s team advising the issuer on U.S. law, while Tokyo law firm City-Yuwa Partners is providing Japanese counsel. The underwriters–Morgan Stanley & Co. LLC; Mitsubishi UFJ Securities (USA), Inc.; and Merrill Lynch, Pierce, Fenner & Smith, Inc.–have turned to Simpson Thacher & Bartlett partners Takahiro Saito in Tokyo and Robert Holo in New York.
