Aflac terminates exchange offer for $850 million of 8.5% notes

By Jennifer Chiou

New York, Sept. 14 - Aflac Inc. announced the termination of its private exchange offer for any and all of its $850 million of 8.5% senior notes due 2019 after failing to reach the minimum threshold condition for the offer.

The offer was to end at 11:59 p.m. ET on Sept. 28. It began on Aug. 31.

As reported, the company was offering new senior notes due 2022 to holders of the old notes who are qualified institutional buyers or those who are not U.S. persons as defined in Regulation S under the Securities Act.

Aflac was seeking enough tenders to meet the minimum threshold of $250 million of new notes issued.

Those who tendered prior to 5 p.m. ET on Sept. 14 were to receive the to-be-revealed early exchange premium.

Global Bondholder Services Corp. was the information agent (866 795-2200 or 212 430-3774 for banks and brokerage firms).

The insurance company is based in Columbus, Ga.

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