Mizuho $3.25 billion notes offering

Overview:

• Mizuho Financial Group (Mizuho), Japan's second-largest bank headquartered in Tokyo, has issued $3.25 billion senior unsecured bonds.
• This is Mizuho's first SEC-registered takedown offering of senior notes, which consisted of $1.25 billion aggregate principal amount of 2.273% senior notes due 2021, $1 billion aggregate principal amount of 2.839% senior notes due 2026, and $1 billion aggregate principal amount of floating-rate senior notes due 2021.
• The notes are structured to count as total loss-absorbing capacity (TLAC) when TLAC regulations are implemented in Japan. 
• The notes are listed on the Singapore Exchange.
• Nagashima Ohno & Tsunematsu (Ichiro Oya, Masaki Konishi) and Simpson Thacher & Bartlett (Takahiro Saito, Nirav Mehta, Michael Young) advised Mizuho.
• Davis Polk & Wardwell (Jon Gray, Christopher J. Kodama, Chihiro Sasaki, Shinya Fujiwara) advised the joint lead managers, JP Morgan and Goldman Sachs.

 Wai Yee Tsang - Journalist - Asia Pacific