Acquisition of North American Asset Portfolio from RBS

February 25, 2015

Tokyo and New York – Mizuho Bank, Ltd. (President and CEO, Nobuhide Hayashi), a wholly-owned subsidiary of Mizuho Financial Group, Inc., (“Mizuho”; President and Group CEO, Yasuhiro Sato), and the Royal Bank of Scotland Group plc (“RBS”) have reached a definitive agreement for the acquisition by Mizuho Bank of a credit portfolio which, as of December 31, 2014, was made up of approximately $36.5 billion in loan commitments, including $3.2 billion of drawn assets.

The amount of commitments to be transferred will be the actual outstanding commitment amounts on the date each commitment is transferred, and the amount paid will be approximately equivalent to the aggregate of the drawn loan amounts on such dates.

The portfolio consists of approximately 200 leading U.S. and Canadian clients, principally high-quality investment grade corporations, in the wholesale market in North America.

In conjunction with the transaction, Mizuho, including its subsidiaries, Mizuho Securities USA and Mizuho Capital Markets Corporation, are also exploring the transfer of certain associated derivatives, and the transition of select coverage banking, debt and loan capital markets, syndicate, and associated capabilities related to the portfolio.

The loan portfolio purchase and expected acquisition of select related capabilities will significantly expand the depth and breadth of Mizuho’s client relationships and product offerings in North America, building on the solid foundation established over the last several years as a more dynamic corporate and investment banking provider in the Americas.

Mizuho will continue to coordinate with RBS to ensure an orderly and seamless transition of client loan commitments. The transfer of assets is expected to be completed in substance by mid FY2015, subject to any necessary consents.

Yasuhiro Sato, President and Group CEO, Mizuho Financial Group, said, “This transformational transaction further accelerates the expansion of Mizuho’s corporate and investment banking activities in North America, and is consistent with our long-term commitment to the North America market and to providing clients with outstanding service and support. Furthermore, both new and existing clients will continue to benefit from Mizuho’s leading global franchise with particular strength in Asia and Japan.”


About Mizuho Financial Group
The Mizuho Financial Group is one of the largest financial institutions in the world, offering a broad range of services including banking, trust and securities, and other business related to financial services through its group companies. The group has approximately 55,000 staff working in approximately 880 offices in 38 countries and regions, and total assets of over US$2.2 trillion (as of March 2014). Under the umbrella of the holding company Mizuho Financial Group, our major group companies include Mizuho Bank (MHBK), Mizuho Trust & Banking (MHTB) and Mizuho Securities (MHSC).

In the Americas, Mizuho Bank provides financial and strategic solutions for the increasingly diverse and sophisticated needs of clients, focusing its efforts on serving major corporations, financial institutions, and public sector entities. Mizuho Securities USA provides a wide range of fixed income, equity, futures and investment banking services to institutional clients and is one of only twenty-two firms designated as a Primary Dealer in U.S. Government and Agency securities.

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