WASHINGTON (dpa-AFX) - Insurer Aflac Inc. (AFL) said Monday that it has priced $550 million of fixed-rate, senior notes due 2020 with a coupon of 2.40% and $450 million of fixed-rate, senior notes due 2025 with a coupon of 3.25%.
The 2020 notes will be issued at a price of 99.972 with a re-offer yield of 2.406% and the 2025 notes will be issued at a price of 99.602 with a re-offer yield of 3.297%.
The company plans to use the net proceeds from the offering to fund all or a portion of the redemption price of its 8.50% senior notes due 2019, of which $850 million principal amount are outstanding. The company plans to use proceeds in excess of such redemption price, if any, for general corporate purposes.
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