By Andrea Heisinger
New York, July 27 - Aflac Inc. reopened its issue of 2.65% notes due Feb. 15, 2017 on Friday to add $250 million, according to an FWP filing with the Securities and Exchange Commission.
The notes (A3/A-/) were sold at 103.105 to yield 1.932% with a spread of Treasuries plus 130 basis points. There is a make-whole call at Treasuries plus 30 bps.
Total issuance is $650 million, including $400 million priced on Feb. 8 at 185 bps over Treasuries.
Morgan Stanley & Co. LLC was the bookrunner. Co-manager was J.P. Morgan Securities LLC.
Proceeds will be used for general corporate purposes, including capital contributions to subsidiaries if necessary.
The supplemental insurance company is based in Columbus, Ga.
| Issuer: | Aflac Inc.
|
| Issue: | Senior notes
|
| Amount: | $250 million reopened
|
| Maturity: | Feb. 15, 2017
|
| Bookrunner: | Morgan Stanley & Co. LLC
|
| Co-manager: | J.P. Morgan Securities LLC
|
| Coupon: | 2.65%
|
| Price: | 103.105
|
| Yield: | 1.932%
|
| Spread: | Treasuries plus 130 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Trade date: | July 27
|
| Settlement date: | July 31
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Total issuance: | $650 million, including $400 million priced Feb. 8
|
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