By Aleesia Forni
Columbus, Ohio, Sept. 20 - Aflac Inc. (Baa1/BBB/) priced a $450 million issue of 5.5% subordinated debentures due 2052 at par of $25, according to an FWP filing with the Securities and Exchange Commission.
Morgan Stanley & Co. LLC, Goldman Sachs & Co., J.P. Morgan Securities LLC and Wells Fargo Securities LLC were joint bookrunners.
BNY Mellon Capital Markets LLC was senior co-manager, while Suisse Securities (USA) LLC, Raymond James & Associates Inc. and RBC Capital Markets LLC acted as co-managers.
The underwriters have an over-allotment option for $67.5 million.
Aflac will apply to list the debentures on the New York Stock Exchange.
The supplemental insurance company is based in Columbus, Ga.
| Issuer: | Aflac Inc.
|
| Issue: | Subordinated debentures
|
| Amount: | $450 million
|
| Maturity: | Sept. 15, 2052
|
| Bookrunners: | Morgan Stanley & Co. LLC, Goldman Sachs & Co., J.P. Morgan Securities LLC, Wells Fargo Securities LLC
|
| Senior co-manager: | BNY Mellon Capital Markets LLC
|
| Co-managers: | Credit Suisse Securities (USA) LLC (senior co-manager), Raymond James & Associates Inc., RBC Capital Markets LLC
|
| Coupon: | 5.5%
|
| Price: | Par of $25
|
| Yield: | 5.5%
|
| Call: | From Sept. 26, 2017 at par
|
| Trade date: | Sept. 19
|
| Settlement Date: | Sept. 26
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
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