KDB Life Insurance to redeem 7½% subordinated securities on May 22

By Mary-Katherine Stinson

Lexington, Ky., April 21 – KDB Life Insurance Co., Ltd. will fully redeem its outstanding $200 million 7½% subordinated capital securities (ISIN: XS1814668122) on May 22, which is the first business day following the initial reset date, according to a notice.

The company will redeem the securities at the optional redemption price of par plus accrued but unpaid distributions to the initial reset date. This distribution is calculated as a distribution of $37.50 per $1,000 principal amount.

KDB Life is a mid-sized insurer in South Korea offering a range of savings, annuity and protection-type products. It is a subsidiary of Korea Development Bank.

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