MFG News & Events

Roadzen has reached an agreement in principle with Mizuho Securities to extend the maturity date of the Company's existing senior secured notes. Under the terms of the extension, the maturity of Roadzen's $11.5 million senior secured notes will be extended by 18 months - from December 31, 2025 to June 30, 2027 - with no other change to the structure. The extension provides Roadzen with enhanced financial flexibility to support its global growth while removing a significant portion of short-term liabilities, thereby strengthening its capital structure. The senior secured notes accrue interest at 15% annually. Completion of the extension is subject to the execution of definitive agreements and customary closing conditions.

Mizuho Financial Group announced new leadership appointments in its global fixed income organization, part of Mizuho Securities. Effective immediately, Thomas Hartnett will serve as Head of Americas and EMEA Fixed Income. Previously responsible for the Americas fixed income division, Hartnett's strategic remit will expand to include the businesses and operations across the Americas and Europe as a single, integrated platform. Taihei Okabe will serve as Head of Fixed Income for APAC, including Japan.

Rakuten (RKUNY), a Japanese ecommerce company, is weighing an IPO in the U.S. of its credit card business, Reuters' Miho Uranaka and Sam Nussey report, citing two sources familiar with the matter. The considerations are in the early stages, with other potential options including a stake sale to a strategic buyer, one of the sources says. Mizuho (MFG) previously acquired a 15% stake in the Rakuten card business for $1.1B. The Fly notes that SoftBank (SFTBY) is also preparing to list PayPay in the U.S.