Japan’s SMBC Offers Dollar Debt Following Mitsubishi Issuance
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Sumitomo Mitsui Banking Corp. plans to offer U.S. dollar-denominated bonds after sales by Mitsubishi Corp. and the Indonesian sovereign. Asia-Pacific bond risk fell.
SMBC, the banking unit of Sumitomo Mitsui Financial Group Inc., Japan’s second-largest financial company by market value, is marketing a sale of three-year, five-year and 10-year bonds, according to a person familiar with the matter, who asked not to be identified because the terms aren’t set. Mitsubishi Corp., a trading company with units from Thailand to Italy, sold $500 million of bonds yesterday, while Indonesia raised $1 billion in the largest sale by an Asian issuer outside Japan since May, data compiled by Bloomberg show.