Japan's Mizuho open to mezzanine funding as virus hits clients' capital positions

Japan's Mizuho open to mezzanine funding as virus hits clients' capital positions

Pedestrians are reflected in the logo of Mizuho Financial Group outside a Mizuho Bank Ltd branch in Tokyo, Japan. Photographer: Tomohiro Ohsumi/Bloomberg

The banking arm of Mizuho Financial Group Inc is open to mezzanine financing such as subordinated debt and preferred stocks after the COVID-19 pandemic has eroded clients’ capital positions, the bank‘s chief executive said in an interview.

The remarks by Mizuho Bank CEO Koji Fujiwara come as major Japanese companies, including airline operator ANA Holdings Inc and retailer Aeon Co Ltd, have recently secured funds through subordinated loans.

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