Print（PDF/103KB） Sep. 04, 2020 Finances

Sumitomo Dainippon Pharma Determines Issuance Conditions for Publicly Offered Hybrid Bonds (Subordinated Bonds)

Sumitomo Dainippon Pharma Co., Ltd. (Head Office: Osaka, Japan; Representative Director, President and CEO: Hiroshi Nomura) announced today that it has determined the issuance terms and conditions of the publicly offered hybrid bonds (subordinated bonds; hereinafter, the "Hybrid Bonds") ^*1 as stipulated below. For details of the issuance, please refer to our earlier announcement, "Sumitomo Dainippon Pharma Announces Issuance of Publicly Offered Hybrid Bonds (Subordinated Bonds)" dated July 30, 2020.

1.	Name	Sumitomo Dainippon Pharma Co., Ltd. 1st unsecured subordinated bonds with interest payment deferrable clause and optional early redemption conditions	Sumitomo Dainippon Pharma Co., Ltd. 2nd unsecured subordinated bonds with interest payment deferrable clause and optional early redemption conditions
2.	Issue amount	¥60 billion	¥60 billion
3.	Initial interest rate	1.39% per annum*2	1.55% per annum*3
4.	Issue date	September 10, 2020
5.	Maturity date	September 9, 2050
6.	Early redemption	Sumitomo Dainippon Pharma may redeem the Hybrid Bonds at its discretion on each interest payment date from and including September 10, 2027, or in case a tax event or an equity credit change event occurs.	Sumitomo Dainippon Pharma may redeem the Hybrid Bonds at its discretion on each interest payment date from and including September 10, 2030, or in case a tax event or an equity credit change event occurs.
7.	Interest payment dates	March 10 and September 10 of each year
8.	Deferral of interest payments	Sumitomo Dainippon Pharma may, at its discretion, defer all or part of the interest payments on the Hybrid Bonds.
9.	Subordination	The Hybrid Bonds are ranked subordinated to Sumitomo Dainippon Pharma's general debt and senior to the common stock.
10.	Rating	BBB+ (Rating and Investment Information, Inc.)
11.	Equity credit	"Class 3 - Equity Credit 50" (Rating and Investment Information, Inc.)
12.	Issuing option	Publicly offered in Japan
13.	Underwriters	An underwriter syndicate where Daiwa Securities Co. Ltd., SMBC Nikko Securities Inc., Nomura Securities Co., Ltd., and Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. act as joint lead managers for this syndication.
14.	Fiscal agent	Sumitomo Mitsui Trust Bank, Ltd.	Sumitomo Mitsui Banking Corporation

^*1 Because the Hybrid Bonds are debts, there is no equity dilution.
^*2 The fixed interest rate will be applied from the day after September 10, 2020, to September 10, 2027, and a variable interest rate will be applied from the day after September 10, 2027. ("Step-up interest rates" will be applied from the day after September 10, 2027.)
^*3 The fixed interest rate will be applied from the day after September 10, 2020, to September 10, 2030, and a variable interest rate will be applied from the day after September 10, 2030. ("Step-up interest rates" will be applied from the day after September 10, 2030.)

Note
This notice has been prepared for the sole purpose of publicly announcing Sumitomo Dainippon Pharma's issuance of hybrid bonds (subordinated bonds), not for the purpose of soliciting investments or performing any similar act.