Aflac Incorporated Prices $450 Million Of Subordinated Debentures
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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