Overview

• SMBC will invest ¥135 billion (about $913 million) to raise its Jefferies holding to as much as 20% from 14.5%.
• SMBC Nikko and Jefferies plan a Japan-based joint venture to combine wholesale equities research, sales, trading and equity capital markets, targeting a January 2027 launch.
• Jefferies will receive $2.5 billion in new credit facilities from SMBC earmarked for leveraged lending in EMEA and pre-IPO financing in the United States.
• The pact broadens joint coverage of large sponsor clients and supports shared origination, underwriting and execution of loans across EMEA.
• The stake increase, credit support and creation of the JV are announced plans that require regulatory approvals and subsequent execution steps.