Mizuho pays premium to sell $1.5bn lower tier two
Mizuho Financial Group topped off a frenzy of international bond sales from Japanese issuers last week, when it sold a $1.5bn lower tier two deal. But the bank had to pay a premium over its closest comparable.
The July 2022 bond was priced at 275bp over Treasuries, the lower end of guidance and a premium of around 46bp over rival Sumitomo Mitsui Banking Corp, said bankers on the deal.
The closest comparable for the new deal was SMBCs $1.5bn 4.85% March 2022 tier two bond, which
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