Mizuho to raise $4 billion through preferred securities

12/22/2008 | International Herald Tribune

Mizuho Financial Group, Japan's second-largest bank, joins numerous other financial institutions in a scramble for cash as it plans to raise $4 billion via preferred securities. The securities will be issued to Japanese institutional investors through the bank's securities arm starting on 29 December. Mizuho has suffered significant losses related to subprime mortgages.

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