The senior callable fixed-to-fixed reset rate notes are due 2028 and 2033

Davis Polk advised the joint bookrunners and lead managers in connection with Mizuho Financial Group’s SEC-registered takedown offering of senior notes, which consisted of $1 billion aggregate principal amount of 5.414% senior callable fixed-to-fixed reset rate notes due 2028 and $750 million aggregate principal amount of 5.669% senior callable fixed-to-fixed reset rate notes due 2033. The notes are structured to count as total loss-absorbing capacity (TLAC) under the Japanese TLAC regulations. The notes are listed on the Luxembourg Stock Exchange’s Euro MTF Market.

Mizuho Financial Group is a Japanese bank holding company that is the ultimate parent company of the Mizuho Group, one of the largest financial institution groups in the world.

The Davis Polk corporate team included partner Jon Gray and associates Chihiro Sasaki, Paul Lee and Dylan H. Lojac. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. Counsel Charles Shi provided executive compensation advice. Members of the Davis Polk team are based in the Tokyo, London and New York offices.