Aflac Incorporated announced
that it priced $450 million of subordinated debentures with a coupon of 5.50%
on September 19, 2012. The subordinated debentures will mature in 2052 and are
redeemable in whole or in part after five years at a redemption price equal to
their principal amount. The company intends to use the net proceeds from this
offering for general corporate purposes.
Regarding the debt offering, Aflac Incorporated President and Chief Financial
Officer Kriss Cloninger III commented, "We have taken advantage of favorable
market conditions to further strengthen our liquidity and capital position
while enhancing our financial flexibility."
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