Mizuho eyes lucrative US market to boost profits

Tokyo

WHEN Actavis Plc was preparing to buy Allergan Plc, it gave Mizuho Financial Group Inc a weekend to decide if it wanted to help come up with US$46 billion in loans to back the deal, code-named Project Fruit Basket.

Mizuho chief executive officer Yasuhiro Sato had an answer by Monday morning: Yes. Four months later, Japan's second-largest bank by assets was in line to lead a US$21 billion bond sale that refinanced the loans.