Published on 1/27/2021 in the Prospect News Investment Grade Daily.
New Issue: Asahi Mutual Life sells $380 million 4.1% step-up perpetual bonds
By Marisa Wong
Los Angeles, Jan. 27 – Asahi Mutual Life Insurance Co. issued $380 million of 4.1% step-up callable perpetual subordinated bonds (//BBB-) on Wednesday, according to a notice.
Citigroup Global Markets Ltd., Barclays Bank plc, Mizuho Securities Asia Ltd., Goldman Sachs International, Morgan Stanley & Co. International plc, J.P. Morgan Securities plc and Nomura International plc are the bookrunners.
The insurance company is based in Tokyo.
Issuer: | Asahi Mutual Life Insurance Co.
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Amount: | $380 million
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Description: | Step-up callable subordinated bonds
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Maturity: | Perpetual
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Bookrunners: | Citigroup Global Markets Ltd., Barclays Bank plc, Mizuho Securities Asia Ltd., Goldman Sachs International, Morgan Stanley & Co. International plc, J.P. Morgan Securities plc and Nomura International plc
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Coupon: | 4.1%
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Settlement date: | Jan. 27
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Rating: | Fitch: BBB-
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