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Published on 12/2/2013 in the Prospect News Liability Management Daily and Prospect News Preferred Stock Daily.

Sumitomo Mitsui Trust Holdings to redeem its ¥70 billion preferreds

By Tali David

Minneapolis, Dec. 2 - Sumitomo Mitsui Trust Holdings, Inc. will redeem all ¥70 billion of its 4.99% noncumulative floating-rate perpetual preferred securities issued by subsidiary STB Preferred Capital 5 (Cayman) Ltd.

The securities will be redeemed at ¥10 million per security on Jan. 27.

Following the redemption, the special-purpose subsidiary will be dissolved.

Sumitomo Mitsui Trust Holdings is the holding company for Sumitomo Mitsui Trust, Ltd., a trust banking firm based in Tokyo.


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