Sumitomo Bank, Limited
Goldman Sachs has assisted Sumitomo Bank in raising capital internationally for nearly
a decade. In 1999, we were sole bookrunner for a $1 billion issue of 10-year subordinated
bonds that enabled Sumitomo to strengthen its Tier II capital reserves and broaden its
investor base, particularly in the United States and Europe. Although the bond market was
unsettled at the time of the offering, our global team was able to assist Sumitomo in
successfully communicating its business strategy and creditworthiness, creating robust
demand for the bonds among a diversified base of high-quality institutional investors.
Interest was so strong that the offering was increased to $1 billion from its original
issue size of $800 million and was priced at the tightest end of the price-talk range.