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Aflac to redeem Samurai notes, senior notes with funds from new notes
By Marisa Wong
Madison, Wis., June 3 - Aflac Inc. plans to repay, redeem or repurchase its ¥28.7 billion 1.47% Samurai notes due July 2014, ¥5.5 billion variable-rate Samurai notes due July 2014 or $300 million 3.45% senior notes due August 2015. The company may redeem, in full or in part, one or more of the three series of notes.
The company intends to fund the redemptions using proceeds from an offering of senior notes due 2023, according to a 424B3 filing with the Securities and Exchange Commission.
Remaining proceeds from the new notes offering will be used for general corporate purposes, including capital contributions to subsidiaries.
The insurance company is based in Columbus, Ga.
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