Aflac could access Japanese debt markets in 2019; leverage stays low

By Devika Patel

Knoxville, Tenn., Dec. 3 – Aflac Inc. plans to keep its leverage levels at 20% to 25%, and has access to the Japanese debt markets at a low cost if needed in 2019.

The company issued debt in Japan and refinanced some domestic debt in October.

“Leverage will remain around the midpoint of our 20% to 25% policy range,” executive vice president and chief financial officer Frederick J. Crawford said on the company’s 2019 outlook conference call on Monday.

“Along with a successful yen debt offering, we refinanced a piece of our U.S. debt in October.

“We are leveraging our strong ratings, favorable spreads and access to Japan’s debt markets to secure our low cost of debt and extend maturities,” he said,

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.