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FHLBank sells $3 billion Global notes; Sumitomo Mitsui prices $2.5 billion three-parter
By Devika Patel
Knoxville, Tenn., Oct. 11 – The high-grade bond primary market saw little activity on Thursday, with just two deals pricing.
Washington, D.C.-based funding provider Federal Home Loan Bank System priced $3 billion of 3% three-year Global notes.
Tokyo-based Sumitomo Mitsui Financial Group Inc. sold $2.5 billion of senior notes in three tranches.
In its deal, Federal Home Loan sold $3 billion of 3% three-year Global notes at 99.935 to yield 3.023% on Thursday. The notes priced with a spread of 8 basis points over Treasuries.
Meanwhile, Sumitomo Mitsui priced $2.5 billion of senior notes (A1/A-) in three tranches on Wednesday.
The company sold $850 million of five-year floating-rate notes with a coupon equal to Libor plus 80 bps.
The issuer priced $1 billion of 3.936% five-year fixed-rate notes with a spread of Treasuries plus 92 bps.
It also brought $650 million of 4.306% 10-year notes with a spread of 112 bps over Treasuries.
All of the notes were sold at par.
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