We advised SMTB 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 $750 million aggregate principal amount of 4.45% senior notes due 2027, $750 million aggregate principal amount of floating-rate senior notes due 2027, $600 million aggregate principal amount of 4.50% senior notes due 2029 and $500 million aggregate principal amount of 4.85% senior notes due 2034. The notes are listed on the Singapore Exchange Securities Trading Limited.

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 and Ayano Kitano. Counsel Alon Gurfinkel and associate Ya Sheng Lin provided tax advice. Associates Caroline R. Zhang and Nikki Williams provided 1940 Act advice. Counsel Will Schisa provided sanctions advice. Counsel Daniel E. Newman and associate Mary Jane Dumankaya provided U.S. regulatory advice. Members of the Davis Polk team are based in the Tokyo, New York, Washington DC and London offices.

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