TOKYO -- Japan's Sumitomo Mitsui Financial Group is set to issue Additional Tier 1 (AT1) bonds worth 140 billion yen ($1 billion), Nikkei has learned, becoming the first major bank in the world to wade into a segment of the capital markets shaken by the turmoil surrounding Credit Suisse.
AT1 bonds, a type of subordinate debt, are issued by banks to beef up their capital without selling new shares that would dilute existing investors.
