SMFG becomes first big Japanese bank to sell AT1 bonds since Credit Suisse's debt wipeout

SMFG becomes first big Japanese bank to sell AT1 bonds since Credit Suisse's debt wipeout

Photo by jun rong loo on Unsplash

Sumitomo Mitsui Financial Group (SMFG) priced $1.04 billion of additional tier-1 (AT1) debt on Wednesday, becoming the first major Japanese bank to sell them since the value of similar bonds issued by Credit Suisse was wiped out.