Summary
Aflac Incorporated announced on September 28, 2006, the issuance of Euroyen bonds totaling 45 billion yen, equivalent to approximately $384 million at the prevailing exchange rate. These bonds are registered for secondary market trading in Japan under a Uridashi shelf registration. The issuance consists of three tranches with varying interest rates and maturity dates, with maturities ranging from 2011 to 2016. Importantly, these securities are not available to U.S. residents or entities and are not registered in the United States.
Key Highlights
- 1Aflac issued 45 billion yen in Euroyen bonds (approx. $384 million).
- 2Bonds are registered for trading in Japan's secondary market via a Uridashi shelf registration.
- 3Three tranches with maturities in 2011 and 2016.
- 4Interest rates include fixed rates (1.52%, 2.26%) and a variable rate (yen LIBOR + spread).
- 5Proceeds are intended for general corporate purposes, including potential debt refinancing.
- 6Bonds are not offered or sold to U.S. investors and are not registered in the U.S.
Frequently Asked Questions
The total value of the Euroyen bond issuance is 45 billion yen, which was approximately $384 million based on the exchange rate at the time of the filing.
No, these specific Euroyen bonds are not available to U.S. residents or entities and are not registered for sale in the United States.
Aflac intends to use the net proceeds from these yen-denominated bonds for general corporate purposes, which may include refinancing existing debt.
The issuance has three tranches: one maturing September 28, 2011, with a 1.52% semiannual interest rate; another maturing September 28, 2016, with a 2.26% semiannual interest rate; and a third maturing September 28, 2011, with a variable interest rate based on six-month yen LIBOR plus a spread.