SMFG to Sell Shares; Mitsubishi UFJ to Sell Yuan Bonds

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Jan. 7 (Bloomberg) -- Sumitomo Mitsui Financial Group Inc. announced plans to raise as much as 889 billion yen ($9.6 billion) in a share sale and may use more than half the proceed to buy back preferred securities and bonds to cut interest costs. Meanwhile, Mitsubishi UFJ Financial Group Inc., Japan’s biggest bank, plans to become the first foreign company to sell yuan-denominated bonds in mainland China as it seeks new investors in the fastest-growing major economy. Bloomberg's Jason Bellini reports. (Source: Bloomberg)


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