Published on 9/8/2016 in the Prospect News Investment Grade Daily.
New Issue: Mizuho Financial details $3.25 billion three-tranche senior notes sale
By Devika Patel
Knoxville, Tenn., Sept. 8 – Mizuho Financial Group, Inc. offered further details about a $3.25 billion three-tranche offering of senior notes (A1/A-/A-) in an FWP filed Thursday with the Securities and Exchange Commission. The deal priced on Wednesday.
The company priced $1 billion of five-year floating-rate notes at Libor plus 114 basis points.
Mizuho sold $1.25 billion of 2.273% five-year notes at Treasuries plus 115 bps.
A $1 billion tranche of 2.839% 10-year notes priced at 130 bps over Treasuries.
Mizuho Securities USA Inc., J.P. Morgan Securities LLC, Goldman Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Inc. and HSBC Securities (USA) Inc. were the bookrunners. Mizuho will bill and deliver.
The notes will be non-callable, according to a 424B5 filed with the Securities and Exchange Commission.
Proceeds from the deal will be used for general corporate purposes.
Mizuho is a Tokyo-based financial institution.
| Issuer: | Mizuho Financial Group, Inc.
|
| Amount: | $3.25 billion
|
| Description: | Senior notes
|
| Bookrunners: | Mizuho Securities USA Inc. (bill and deliver), J.P. Morgan Securities LLC, Goldman Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Inc. and HSBC Securities (USA) Inc.
|
| Co-managers: | Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, UBS Securities LLC, KKR Capital Markets LLC, BNP Paribas Securities Corp., Deutsche Bank Securities Inc., BNY Mellon Capital Markets LLC, Capital One Securities, Inc., CIBC World Markets Corp. and Citizens Capital Markets, Inc.
|
| Trade date: | Sept. 7
|
| Settlement date: | Sept. 13
|
| Ratings: | Moody’s: A1
|
| S&P: A-
|
| Fitch: A-
|
| Distribution: | SEC registered
|
|
|
| Five-year floaters
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| Amount: | $1 billion
|
| Maturity: | Sept. 13, 2021
|
| Coupon: | Libor plus 114 bps
|
| Price: | Par
|
| Yield: | Libor plus 114 bps
|
| Call: | Non-callable
|
|
|
| Five-year notes
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| Amount: | $1.25 billion
|
| Maturity: | Sept. 13, 2021
|
| Coupon: | 2.273%
|
| Price: | Par
|
| Yield: | 2.273%
|
| Spread: | Treasuries plus 115 bps
|
| Call: | Non-callable
|
|
|
| Ten-year notes
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| Amount: | $1 billion
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| Maturity: | Sept. 13, 2026
|
| Coupon: | 2.839%
|
| Price: | Par
|
| Yield: | 2.839%
|
| Call: | Non-callable
|
| Spread: | Treasuries plus 130 bps
|
|
|
|
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