Mizuho to redeem dollar, yen perpetual preferred securities

New York, May 13 – Mizuho Financial Group, Inc. announced the redemption of the dollar-denominated non-cumulative perpetual preferred securities issued by Mizuho Capital Investment (USD) 1 Ltd. and the yen-denominated non-cumulative perpetual preferred securities issued by Mizuho Capital Investment (JPY) 1 Ltd.

The $600 million of dollar-denominated preferreds and the ¥400 billion of yen-denominated preferreds will both be redeemed on June 30, according to a 6-K filing with the Securities and Exchange Commission.

In both cases, June 30 is the first call date for the securities and is also a dividend payment date. Also in both cases, the dividend rate is scheduled to reset to a floating level from its current fixed rate on June 30.

Mizuho is a Tokyo-based financial institution.

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