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Mizuho Financial to issue ¥460B of subordinated bonds

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Mizuho Financial to issue ¥460B of subordinated bonds

MizuhoFinancial Group Inc. raised ¥460 billion via a dual trancheoffering of subordinated bonds.

The company said July 15 that it will issue two tranches of subordinatedbonds of ¥230 billion each. The bonds have an optional redemption clause andwritedown clause.

The first tranche was priced at par with an interest rate of1.38% per year until Dec. 15, 2021, after which it have a coupon of 1.55% overthe six-month euro-yen LIBOR.

The second tranche was priced at par with an interest rateof 1.55% per year until Dec. 15, 2026, after which the coupon will be 1.60%over the six-month euro-yen LIBOR.

The payment date for the bonds is July 22.Proceeds from the issue will be granted to Mizuho Bank Ltd. as a subordinated loan.

As of July 14, US$1was equivalent to ¥105.37.