Japanese banks bolster TLAC amid blackout

By David Rothnie
09 Jul 2020

Japanese duo Mizuho and Nomura both hit the market with new issues on Monday as the primary market re-opened on a positive note following the July 4 holiday weekend.

The banks raised debt eligible to meet Japan’s total loss absorbing capacity regulatory requirements.  

Mizuho Financial Group Inc, rated A1/A-, hit the market with a $2.5bn three-tranche trade. It sold $1.1bn of 2.2% four year non-call three notes at 105bp over US Treasuries and $1.1bn of 11 ...

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