We advised Sumitomo Mitsui Trust Bank on the update of its global MTN program and senior notes offering

Davis Polk advised Sumitomo Mitsui Trust Bank, Limited (SMTB) in connection with the update of its global medium-term note program and a drawdown of senior notes under Rule 144A / Regulation S, which consisted of $500 million aggregate principal amount of 5.65% senior notes due 2026, $500 million aggregate principal amount of floating-rate senior notes due 2026 and $500 million aggregate principal amount of 5.55% senior notes due 2028.

SMTB is one of the largest Japanese trust banks in terms of total trust account assets.

The Davis Polk corporate team included partner Christopher Kodama and associates Paul Lee, Haruka Moriya and Ayano Kitano. Counsel Alon Gurfinkel and associate Ya Sheng Lin provided tax advice. Counsel Daniel E. Newman and associate Joshua Kim provided financial institutions advice. Counsel Sarah E. Kim provided 1940 Act advice. Counsel Charles Shi provided ERISA advice. Members of the Davis Polk team are based in the Tokyo, New York and London offices.

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