Mizuho issues $553m green bond

Its banking arm will use the funds to finance environmentally friendly projects.

Mizuho Financial Group has issued a green bond worth a total of EUR500m (approximately $553.7m).

Funds raised through the bond issuance will be used by Mizuho Bank to finance environmentally friendly projects, including renewable energy, the bank said in a press release posted on its website.

The bond has an interest rate of 3.460% from the issuing date to the optional redemption date. 

From the optional redemption date to the maturity date, the interest rate is the three-month EURIBOR plush 1.049%.

The bond’s issue date was on 27 August 2024, with a maturity date set on 27 August 2030. Optional redemption date is on 27 August 2029.

The green bond serves as a portion of funds for the bank’s environmental and climate-related finance target of JPY50t.

Mizuho had earlier set a sustainable finance target of JPY100t.

(US$1 = EUR0.90)