Japanese banks bolster TLAC amid blackout

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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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