| " Benchmark Notes" |
" Domestic Subordinated |
|
|---|---|---|
| Volume of Issuance |
approx. 200 billion yen |
To be determined |
| Issue frequency |
Quarterly |
Once or twice a year |
| Structure |
5-year bullet, fixed rate notes |
10-year bullet, fixed rate notes |
| Interest payment |
Twice a year |
Twice a year |
| Face value |
100 million yen |
100 million yen |
| Distribution |
Public offering mainly to institutional investors through dealers |
Public offering mainly to institutional investors through dealers |
SMBC may issue different types of senior notes in addition to "Benchmark Notes".
(details are to be determined)
Volume of issuance was changed from approx. 400 billion yen to approx. 200 billion yen since fiscal 2005.
In addition, SMBC may issue Domestic Subordinated Notes in a callable format or for retail investors (deatails are to be determined)
SMBC's Commitment to the Secondary Market
SMBC, as an issuer, recognizes the importance of the secondary market of “Benchmark Notes” and "Domestic Subordinated Notes", and has made and will continue to make every effort to develop it. Specifically, in order to enhance the liquidity and transparency in the secondary market:
- SMBC contributes to develop the secondary market through issuance of "“Benchmark Notes” “and "Domestic Subordinated Notes (10-year bullet)” on a regular basis thereby forming yield curves for these notes;
- SMBC gives careful consideration to the secondary spreads in setting issue prices in order to avoid disparities between the primary and secondary markets;
- SMBC expects underwriters to make a market on a best effort basis in order to enhance the liquidity of the secondary market;
- SMBC provides the secondary market information for “Benchmark Notes” and “Domestic Subordinated Notes (10-year bullet)” through several information terminals.
Other Information on Domestic Issues
Information on International Issues
