Our approach and actions are underpinned by our core values:
"Our Fixed Income platform combines a strong balance sheet with an experienced and diverse team that is focused on adding value to our clients. It’s incredibly rewarding to see this operating model in action on market-leading transactions, both domestically and globally."
Strong global counterparty with substantial risk capital
Fixed Income is a naturally global product and Mizuho offers an extensive span into the key asset class and investor segments in the US and Internationally
Our entity structure in the US, including a Bank Holding Company and a Foreign Bank Branch, enables Mizuho to commit capital across a variety of vehicles and activities
Mizuho Bank’s strong rating (A1/A) positions the firm as a high-quality counterparty for the most demanding clients
Our position in Japan and Asia ex. Japan complements our strong US position, offering clients a unique perspective on the activity and opportunities for partnership with this vital investor and issuer region.
Expert team with diverse experiences and ideas
Fixed Income is an ever changing landscape and our team brings a level of experience and perspectives that is unparalleled in the industry
We have a diverse and dynamic culture that emphasizes a collaborative approach to solving client needs and a sense of urgency in adding value to both new and existing relationships
Complete offering of products and solutions
Mizuho Americas offers the complete range of Fixed Income and Currencies products that can serve clients’ needs across these sectors
We have strong capabilities in Interest Rates, Securitized Products, Corporate Bonds, Foreign Exchange and Municipals, in both Cash and Derivative instruments
Our client teams cover the full array of investors and issuers, including Asset Managers, Central Banks, Financial Institutions, Alternative Managers, Corporates, Private Equity & Credit Sponsors, and Project Finance managers
As one of the leading foreign bank lenders to US Corporates, our visibility into the supply side of US debt capital markets uniquely positions the firm to deliver solutions to both investors and issuers
Interest Rate Products
Our Interest Rate business provides cash and derivatives trading services informed by our team's deep understanding of the U.S. and Japanese fixed-income markets. Our broad product suite enables us to offer clients integrated solutions backed by our superior execution capabilities. We serve a global client base that includes Asset Managers, Alternative Managers, Insurance Companies, Corporates, Pension Funds, Sovereign Wealth Funds, and Supra-nationals.
We offer bespoke financing and hedging solutions for Institutional clients by leveraging our integrated relationship with the Investment Banking franchise.
Product Suite
Repo/Financing
US Government Bond trading
Agency Debentures
Interest Rate Swaps
Interest Rate Options
Cross-Currency Swaps
Exotics
Rankings
Top 10 Agency Discount Notes by Volume (Tradeweb)
Top 10 Federal Farm Credit Discount Notes by Volume (Federal Farm Credit Banks Funding Corp.)
Top 10 US Treasury Bills by Volume, Duration Weighted (Bloomberg)
Top 10 US Treasuries by Volume during Asia Hours (Tradeweb)
Notable Deal Highlights
Sole Execution and Structuring Bank for Corporate JPY private placement hedge
Lead Execution and Syndication Bank for several billion dollar Project Finance loan related hedges
Sole Provider for US Corporate EUR Net Investment Hedge
Several tens of billions of dollars of notional in leading Deal Contingent Rates and FX transactions across Sponsor and Project Finance sectors
BRL FX non deliverable forward with an institutional client
Foreign Exchange
With offices in New York, London and Tokyo, our Foreign Exchange Products group offers 24-hour trading capability and unique knowledge of the Japanese market. We are market makers in all major and most emerging-markets currency pairs, providing expert solutions and seamless execution. We continue to develop innovative tools as a leader in an evolving FX marketplace.
We cover both institutional and corporate clients and are a leading provider of event-driven, deal contingent FX hedging solutions tied to M&A and project finance deals for major corporations, infrastructure companies and financial sponsors.
Product Suite
FX Spot
FX Forwards and Swaps
Non-Deliverable Forwards (NDF)
FX Options (including Non-Deliverable Options)
Notable Deal Highlights
Strips of long-tenor USD/CAD FX forwards to mitigate cashflow risk for clients
Multi-billion dollar USD/JPY spot FX trade to receive USD against a new JPY loan
Several landmark FX forward deals as a part of our Deal Contingent platform servicing global clients
Securitized Products
We have a diverse Securitized Products franchise that serves a broad array of Domestic and Foreign Banks, Insurance Companies, Alternative Managers, Asset Managers, REITs, and State and Local Governments. We leverage our unparalleled insight into the Japanese markets and access to the country’s vast investor base to gain a distinct advantage in tapping this large marketplace.
Product Suite
Agency Mortgages (including CMO’s & CMBS)
Non- Agency RMBS
Asset-Backed Securities
Collateralized Loan Obligations (CLO Trading & Warehousing)
Rankings
#4 TBA MBS by volume (ex. rolls; Tradeweb)
Top 10 CMO Trading by Volume (Tradeweb)
Top 10 Agency CMO Issuance (Tradeweb)
Top 10 Agency MBS Trading (Tradeweb)
Notable Deal Highlights
Joint Bookrunner on New Issue CLO for Bain Capital
Sole Arranger on New Issue CLO for Nassau Corporate Credit
Joint Bookrunner on New Issue Residential Mortgage Facility for AD Mortgage
Aircraft lease Asset Backed Security transaction privately placed with an investor
Corporate Bonds
Our strong trading capabilities, coupled with our broad DCM platform, enable us to offer our institutional clients services that span the gamut of corporate credit products. Our client roster is extensive and diverse, including Domestic and Global Asset Managers, Insurance Companies, Pension Finds, Sovereign Wealth Funds and Alternative Managers.
Product Suite
Investment Grade
High Yield
Emerging Markets
Commercial Paper
Rankings
#4 Secondary Investment Grade US Corporate Floating Rate Notes by Volume (MarketAxess)
Top 10 Emerging Markets Trading by Volume (MarketAxess)
#8 Investment-Grade Corporate League Tables (Bloomberg)
Top 10 High Yield Corporate League Tables (Bloomberg)
Notable Deal Highlights
Active DCM lead manager in 70+ Investment Grade Credit transactions in 2022
Bookrunner on 8 of the 10 largest bond deals ever sold (Credit Flow Research, Bloomberg)
Municipal Markets
Our Municipal strategy provides direct funding, financing and risk-management solutions to municipal market issuers, obligors and investors. We strive to deliver innovative solutions that match our clients' needs.
In addition to the traditional municipal market sectors, our team works with Issuers, Obligors and Investors in social impact sectors of the municipal market, including affordable housing, charter schools and PACE.
Product Suite
Total Return Swaps
Customer Tender Option Bonds
Interest Rate Swaps
Derivative products
Direct purchases
Private Placements
Cash trading
Notable Deal Highlights
Direct tax-exempt funding novated from other banks for (I) two of the largest not-for-profit healthcare systems and (II) affordable housing properties owned by a publicly traded REIT
Novation and restructuring of a deep out of the money interest rate swap for a large not-for-profit healthcare system
Structured financing for (I) a private equity fund’s municipal bond acquisition secured by a large nationwide portfolio of charter schools, (II) an investment firm’s PACE portfolio, (III) a family office’s municipal bond portfolio secured by property taxes on a large residential community and (IV) an investment firm’s municipal bond acquisition secured by a portfolio of nursing homes
Client Coverage
We benefit from an enormous level of connectivity with Fixed Income clients, both domestically and globally. This foundation, alongside an ever growing presence in the Americas capital markets, informs the “think globally, act locally” strategy employed by our experienced coverage professionals.
We are proud to serve both investor and issuer relationships with a comprehensive coverage model organized into two teams:
Institutional Sales
Our investor coverage team covers all major buy-side sectors, including Asset Managers, Central Banks, Financial Institutions and Alternatives Mangers. We can offer unparalleled solutions by leveraging our strong credit rating and balance sheet position, coupled with our unique insight into the pan-Asian market. Our experienced sales team works seamlessly with our trading franchise to deliver exceptional service, deep analysis and effective execution.
Derivative Solutions
Our solutions team works closely with our Banking, Debt Capital Markets, and Fixed Income trading desks to construct bespoke hedging solutions and provide seamless trade execution to large Corporates, Project Finance, and Private Equity Sponsors. By combining extensive experience in analyzing and articulating strategies around risk exposures with our traders’ ability to navigate complex and volatile markets, this team performs leadership roles on some of the largest transactions in the market today
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