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Mizuho Financial to raise US$2.75B through senior notes issue

Japan-based Mizuho Financial Group Inc. plans to raise US$2.75 billion through an issue of senior notes in three tranches.

The issuance consists of US$1.1 billion 3.922% notes due in 2024, US$1 billion 4.254% notes due in 2029 and US$650 million of floating-rate notes due in 2024.

The notes are expected to be issued on or around Sept. 11, according to a Sept. 5 prospectus supplement.

Mizuho Financial intends to use proceeds from the issuance and sale of each series of the notes to make loans to its banking unit, Mizuho Bank Ltd., which will use the funds for general corporate purposes.

Mizuho Securities, J.P. Morgan, Goldman Sachs & Co. LLC, BofA Merrill Lynch and Citigroup are joint lead managers and joint book runners for the issue.