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Prospect News home > News index > List of issuers S > Headlines for Sumitomo Mitsui > News item
Published on 8/29/2002 in the Prospect News Convertibles Daily.

Sumitomo Mitsui to redeem 3 1/8% convertibles

New York, Aug. 29 - Sumitomo Mitsui Banking Corp. said it will redeem the remaining $8.66 million outstanding of its 3 1/8% convertibles bonds due 2004.

The Tokyo company, previously called The Sumitomo Bank, Ltd., originally issued $300 million of the securities in January 1989.

The convertibles will be redeemed on Sept. 30 at par.

They are convertible at ¥3,606.90 and the applicable exchange rate is ¥127.75. The bank's stock closed at ¥621 on Wednesday.


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