Market Overview

Aflac Incorporated Prices $450 Million Of Subordinated Debentures

Related AFL
Aflac's Guidance Fails To Impress Analysts
UPDATE: Morgan Stanley Reiterates On Aflac Following Disappointing 2Q Results

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."

Posted-In: News Financing

 

Related Articles (AFL)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters