Aflac (AFL) Prices Aggregate $750M Senior Notes Offering
Down)
Aflac Inc (NYSE: AFL) has priced $400 million (par value) of five-year fixed rate, senior notes with a coupon of 2.65%, and $350 million (par value) of 10-year fixed rate senior notes with a coupon of 4.00%. The five-year notes will be issued at a price of 99.911 to yield 2.669% and the 10-year notes will be issued at a price of 99.820 to yield 4.022%. The company intends to use the net proceeds from this offering to repay in full at maturity the Parent Company's $347 million aggregate principal amount of 1.87% Samurai notes due June 2012. The company intends to use the balance of the net proceeds for general corporate purposes, including capital contributions to subsidiaries, if needed.
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