Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers N > Headlines for Nippon Life Insurance Co. > News item |
Japan's Nippon Life mulls sale of 30-year hybrid subordinated notes
By Andrea Heisinger
New York, Oct. 4 - Nippon Life Insurance Co. is looking to sell an offering of 30-year fixed-to-floating-rate callable subordinated notes (A2/A-/), a market source said on Thursday.
Pricing is expected in the Oct. 8 week, the source said.
There will be a fixed interest rate until October of 2022 with a floating rate thereafter. There is also an interest deferral option.
The bonds would be sold under Rule 144A and Regulation S and be non-callable for 10 years.
Citigroup Global Markets Inc. and J.P. Morgan Securities LLC have been tapped as bookrunners.
The life insurance company is based in Chuo-ku, Osaka.
© 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.