Benzinga | Jul 14, 2021 06:49AM EDT

Jefferies And SMBC Announce Alliance To 'collaborate on future corporate and investment banking business opportunities'; SMBC To Provide Credit Facilities To Jefferies Finance Of $1.9B And Jefferies Group Of $350M, Will Purchase 4.9% Of Jeferies Stock

Jefferies and SMBC Group to Collaborate on Future Business Opportunities to Enhance Value to Their Clients and Accelerate Strategic Initiatives

SMBC Group to Provide Credit Facilities to Jefferies Finance LLC ($1.9 Billion) and Jefferies Group LLC ($350 million)

SMBC Group to Purchase up to 4.9% of Jefferies Common Shares in the Open Market

Jefferies Financial Group, Inc. (NYSE:JEF) ("Jefferies Financial"), the parent company of Jefferies Group LLC ("Jefferies Group") (together hereafter referred to as "Jefferies"), and Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG), Sumitomo Mitsui Banking Corporation ("SMBC") and SMBC Nikko Securities Inc. ("SMBC Nikko") (together hereafter referred to as "SMBC Group") announced today that they have entered into a Strategic Alliance to collaborate on future corporate and investment banking business opportunities.