Aflac to redeem $500 million 5.5% subordinated debentures via proceeds

By Sarah Lizee

Olympia, Wash., Oct. 6 – Aflac Inc. plans to fully or partially fund the redemption price of its $500 million 5.5% subordinated debentures due 2052 using proceeds from a new offering of yen-denominated subordinated debentures due 2047, according to a 424B5 filing with the Securities and Exchange Commission.

Any remaining proceeds will be used for general corporate purposes.

The Columbus, Ga.-based company provides supplemental health and life insurance.

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