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 its drawdown of senior notes under Rule 144A / Regulation S, which consisted of $750 million aggregate principal amount of 0.800% senior notes due 2024, $750 million aggregate principal amount of SOFR-linked floating-rate senior notes due 2024 and $750 million aggregate principal amount of 1.350% senior notes due 2026.

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

The Davis Polk corporate team included partner Jon Gray, counsel Christopher Kodama and associates Paul Lee and Junghyun Park. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Members of the Davis Polk team are based in the Tokyo and London offices.

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